We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Debt Managment Schemes and Share Ownershop
gbrael
Posts: 12 Forumite
Hi
I am currently in a debt management scheme - its likely that I will shortly inherit part of a house (50%) worth £180,000 - so let say I have £90,000 but nowhere to live. At a push I could find a one bedroom flat or studio but if I were to try the housing association route would my poor financial record go against me even If I paid outright for my share ? (I suspect it would) ,,,,,,
any input appreciated.
I am currently in a debt management scheme - its likely that I will shortly inherit part of a house (50%) worth £180,000 - so let say I have £90,000 but nowhere to live. At a push I could find a one bedroom flat or studio but if I were to try the housing association route would my poor financial record go against me even If I paid outright for my share ? (I suspect it would) ,,,,,,
any input appreciated.
0
Comments
-
what are your current living arrangements?Tallyhoh! Stopped Smoking October 2000. Saved £29382.50 so far!0
-
Well I was leaving at my mums house but she has now passed and I suspect my sister wiill want to sell - so I cant get a mortgage to buy here out...0
-
Hi
I don’t know for certain but I don’t see why your credit history would be a problem if you bought your share of a shared ownership property outright. You would essentially then just be renting the rest of the property from the Housing Association.
It’s worth contacting your Local Authority for more information.
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards