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Credit Checks for Maintenance on Retirement Properties
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Ancasta
Posts: 1 Newbie
Can anyone help.
My elderly brother lives in a house jointly own by 5 siblings. (of which, obviously I'm one).
He finds the property too big to cope with and we have agreed to sell the house and jointly by a retirement property for him.
This will be a cash purchase, no mortgage.
Simple so far, BUT he will be responsible for the maintenance payments. Well actually Pension credits will be.
His credit record is POOR. My question is will the leasing company do a credit search?
There is little point in selling his home if he is refused the retirement home on grounds of poor credit.
To repeat. Do they do a credit check?
My elderly brother lives in a house jointly own by 5 siblings. (of which, obviously I'm one).
He finds the property too big to cope with and we have agreed to sell the house and jointly by a retirement property for him.
This will be a cash purchase, no mortgage.
Simple so far, BUT he will be responsible for the maintenance payments. Well actually Pension credits will be.
His credit record is POOR. My question is will the leasing company do a credit search?
There is little point in selling his home if he is refused the retirement home on grounds of poor credit.
To repeat. Do they do a credit check?
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