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Renting a property to daughter and sharer

paulpud · 2016-10-31 10:51:59

My partner and I currently have around 95k in a savings account and following by the recent interest rates cuts we've decided to try to do something else with it. We did consider putting it into our pensions, which would probably be the safest/most profitable thing to do, but we are now considering another option. My…

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seven-day-weekend Posts: 36,755 Forumite

2 November 2016 at 4:09PM

PersianCatLady wrote: »

My partner and I currently have around 95k in a savings account
There won't be a mortgage involved
I am confused by these two statements and I just want to clarify that they are correct.

Are you actually going to be able to purchase a whole property without a mortgage for £95,000?

I only ask because where I live there is no chance at all of managing to do so but I do understand that in other areas of the country there are cheaper properties but I didn't know that there was much left for that price.

I bought a two-year-old flat on a new development for £85k last year. You can also buy a house in a not-so-good area for this, in my city.

(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
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