Desperate need of help - Parents and Housing

hcb42

I have had a kind of similar situation, although not quite the same. Essentially my parents wanted a bungalow but could not afford one. Somehow a slippery estate agent had persuaded them to sell for a very low offer, then they could live in it for as long as they liked until the council found them a bungalow. I spoke to Mum on the phone (who was believing all she was hearing) then five minutes with Dad and I was up there the next day. He definitely didnt want to go with this plan. I did manage to point out the risks of them being out on the street and they wouldnt get the bungalow. I did manage to thwart the plan, unfortunately Mum died two months later. However in terms of approach, it might be worth seeing what your Mum wants to do, and what would a home look like in there area that they can afford to buy outright? Would she like that?

OtleyDominic

Good to hear I am not alone in having parents in challenging financial positions. All aunts and family are trying to convince them to move. It ends in argument most of the time.

I will have a look at the noted sites, I just hope my son will look after my best interests as I get older! It must be so hard for some to accept they need to downsize and a massive challenge.

Cheeky_Monkey

Of course their mortgage has an end date. In fact I'm surprised it hasn't already ended given they are over 70.

Unfortunately, if your dad refuses to see sense by refusing to sell the house, the mortgage lender will simply repossess it and then he'll have no choice in the matter but to downsize

OtleyDominic

Cheeky Monkey, maybe that will be the governing moment I can oddly look forward to

Cheeky_Monkey

OtleyDominic wrote: »

Cheeky Monkey, maybe that will be the governing moment I can oddly look forward to

I agree.

Maybe the letters arriving from the mortgage lender advising him that they intend to repossess will be enough of a kick up the @rse for him to realise that what you have been saying is his only real choice :beer: