Right to buy advice and would we get a mortgage?

Mokka

If you mum wants to she can add you to her tenancy as a joint tenants.

In your circumstances the quickest route for you to become homeless and lose the roof over your head is to buy.

The interest can be covered for a period of time, but not indefinitely and you would still owe the outstanding mortgage. Which would have to be repaid from earnings, since owners do not qualify for any rent subsidy.

If your mum does not want you on the tenancy get on a housing waiting list- with your problems you should get some sort of priority.

patman99

It is not just the cost of the mortgage. What about insurance ?. If the house has a big-enough drive and is close to a school, hospital, rail station etc., then you could come to an informal agreement to rent the drive out for £x per day cash in hand.
This would help build a small fund.

One thing that you have not mentioned is where are you getting the initial £4k deposit from ?. Have you already got this saved ?. If so, then why not try adding every spare penny you have each week to it whilst you are thinking about the right to buy option. Every £100 you can reduce the mortgage by, reduces the amount you have to pay out each month.