Mortgage for unemployed/disabled?Buying Council Home..

mario786

My friend is unemployed and unable to work due to his disability..He would like to purchase his council home via right to buy?
His credit file has no defaults,pretty much average.
He is hoping his home is offered to him at roughly 65,000?
Realistically what are the chances of him getting a mortgage?Would it be unlikely due to him being unemployed on benefits etc?Is he wasting his time in applying in the first place?How do other people in similar circumstances do it?
Any help/advice would be appreciated?

borkid

Hi my daughter remortgaged her home ( about the same amount as your friend is looking for) about 3 years ago, she's on benefits. She tried to get one on her own but couldn't. My OH had to be a guarantor and she needed to go through a broker, at the time they could only find one BS to do it.

Things have probably changed now though. Hopefully some brokers will post to give their views on this.

Why does you friend want to buy? Does he realise how much it will all cost with maintance etc. Does he realise he will only get help with the interest part of the mortgage so will have to fund the capital repayments himself. I suspect he would be better off renting from the council rather than buying. Also has he factored in the legal costs?

kingstreet

I was very impressed with these people when I attended an Orbit seminar a year or two ago;-

http://www.mysafehome.info/

I don't know if their plan could be adapted for a right to buy.

mario786

Unfortunately my friend does not have anyone who could go guarantor,yes he is fully aware of the costs,realistically this is the only way possible for him to get on the property ladder..Checked website suggested by kingstreet,unfortunately they dont cover Scotland?