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Buying council house with a friend

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Comments

  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    What could possibly go wrong????


    Never lend money to friends unless you don't expect it back
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    aj9648 wrote: »
    Hi

    Friend of mine has been offered chance to buy his council at a ridiculously cheap price. However his credit rating and ability to get a mortgage is non existent and there is now way he can raise the capital.

    So what on earth would be the benefit to him of owning ?

    He'd be moving from a protected position to a precarious one with all downside.
  • sevenhills
    sevenhills Posts: 5,938 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    AnotherJoe wrote: »
    So what on earth would be the benefit to him of owning ?
    He'd be moving from a protected position to a precarious one with all downside.

    David Cameron was saying all different things about social housing before he got elected. You never know what the Tories will do.
    Anyone on a reasonable income in social housing should buy.
  • theartfullodger
    theartfullodger Posts: 15,701 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Come on, don't be shy, please reply OP....
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    sevenhills wrote: »
    David Cameron was saying all different things about social housing before he got elected. You never know what the Tories will do.
    Anyone on a reasonable income in social housing should buy.

    Relevance of that to the OP is ?
  • IAmWales
    IAmWales Posts: 2,024 Forumite
    sevenhills wrote: »
    Anyone on a reasonable income in social housing should buy on the open market.

    Yes, I agree.
  • aj9648
    aj9648 Posts: 1,386 Forumite
    Part of the Furniture 500 Posts
    Wow - what a response !!! I feel sorry I asked !!!

    I think I will forget about it and leave the cash where it is !!
This discussion has been closed.
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