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Help with unusual house buying situation
Navajazz
Posts: 1 Newbie
I need help.
I am a first time home buyer.
I am on long term sickness benefits due to a congenital joint and connective tissue disorder, as well as a disc issues and arthritis in my back and PTSD.
I have found a place that I love but it's only £20,000 to buy. Most people I've talked to wont lend that little amount of money.
I would need ~£10,000 to make the house weatherproof, but as this is on top of the cost of the house, I can't find anyone who will lend that to me.
It's a tenanted small holding in Scotland, not a croft. This means that I would own any buildings on the land but I have to pay a nominal rent (£1.75p a year) to the estate. I would not own the land at all.
Is there anything or anyone out there who could help? I've been struggling to find somewhere to rent that is safe for me, will accept a dog and housing benefit that I can afford and I don't want to be renting for the rest of my life.
I am a first time home buyer.
I am on long term sickness benefits due to a congenital joint and connective tissue disorder, as well as a disc issues and arthritis in my back and PTSD.
I have found a place that I love but it's only £20,000 to buy. Most people I've talked to wont lend that little amount of money.
I would need ~£10,000 to make the house weatherproof, but as this is on top of the cost of the house, I can't find anyone who will lend that to me.
It's a tenanted small holding in Scotland, not a croft. This means that I would own any buildings on the land but I have to pay a nominal rent (£1.75p a year) to the estate. I would not own the land at all.
Is there anything or anyone out there who could help? I've been struggling to find somewhere to rent that is safe for me, will accept a dog and housing benefit that I can afford and I don't want to be renting for the rest of my life.
0
Comments
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Housing Options Scotland may be able to provide useful information.A kind word lasts a minute, a skelped erse is sair for a day.0
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At £20-30k, you're closer to personal loan territory than mortgage, which you may struggle to find if your income is solely benefits. Do you have any well-off relatives who might be willing to lend you the money privately?
If you do manage to find a lender who will grant you a mortgage for that amount, you will need a deposit. Do you have one? Also, do you have funds to cover legal and moving fees?0 -
Would there be a requirement for you to actually use it for agricultural purposes, rather than just as a cheap residence?0
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In Scotland it's offers over so may not even be £20k.
You won't get a loan as they can't be used for property purchases.
Do you have any savings for a deposit, purchase fees, furniture, moving costs etc?
Is such a property, possibly remote, suitable for your needs taking into account your health, need a doctor near by etc?
What benefits are you on as some are taken into account for mortgage purposes.
But in all honesty you won't get a mortgage on a property that is not water tight and habitable from the off.Mortgage started 2020, aiming to clear 31/12/2029.0
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