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Scottish Homes - rent to mortgage
Stupoto
Posts: 1 Newbie
My Mother bought her council house from Scottish Homes Housing Association in 1992 through their rent to mortgage scheme. This works by taking out a 10 year mortgage that has monthly payments equivalent to the rent. The association cover the difference at the current market value. When the house is sold the association get back the equivalent percentage share. My Mother recently passed away and the family would like to sell the house. However, Scottish Homes do not exist anymore. They folded in about 2008 I think. Can anyone advise what the situation is today on this or give their own experience if they used the same scheme.
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Comments
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If your house is in Dundee this might help http://www.abertayha.co.uk/
Just googled "who owns scottish homes housing association now"
If they don't exist anymore, one would assume their homes and outstanding transactions were taken over by someone. If this link isn't helpful, perhaps you could ask a solicitor (if you need one because you are planning to sell as well)?
I would have thought your mother would have some paperwork/letter telling her what is happening once Scottish Homes Housing Association was bought out.0 -
It was just "Scottish Homes" (a government agency, not a housing association in the conventional sense).0
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