home improvement loan for a non homeowner?

Jenniefour

If I were in your grandparents situation I wouldn't entertain this idea. How could it possibly be to their advantage to give up a secure life time tenancy with repairs taken care of and run the risk of being negatively impacted by issues others posters have raised?

Are you aware that some people do not receive what has been left to them in a will because assets like property have to be sold to pay for residential care?

You are young and have many money earning years ahead of you, the grandparents have none. So their security and wellbeing must be priority. Sensible way forwards is to get onto plan B. Mixing up the welfare of retired grandparents with your plan to be a home owner by exploiting the right to buy scheme is making your grandparents sitting ducks and the ones most likely to be adversely affected if anything goes wrong.

If, as you say, grandparents and other family members are encouraging this then I suggest grandparents go and get a free half hour with a solicitor to receive independent advice.

Lauraj1391

I think the advice people have given here is really good advice. I would be worried about you and your partner separating and having to sell your grandparents house to pay back the loans you have out then what happens with your grandparents? What if they become ill and need go into care? If they brought the house and they are receiving benefits of any kind they will all be stopped and they could loose their income? If its so easy for you to save up £5k then why don't you keep saving until you have enough for a deposit? It is hard to buy these days my partner and i are FTB but if you have the willpower to save then its doable.

MisterB1959

the problem is that you don't get rich quick by saving and buying your own property, you can make a lot more money very quickly by defrauding the system AND putting your grandparents at risk. who wouldn't do that, given the chance ......