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Thinking of selling my property to a company that will let me live in it until I die?
Jakkwin
Posts: 9 Forumite
Hi all, I am currently in arrears with my mortgage (£900) My mortgage was £145 a month last January, it has now jumped up to £496 a month. I am thinking of selling my property to a company that will still let me live in it until I die. Any help will be so grateful. Many thanks.
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Comments
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Tell us more about this company.......#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3660
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I haven't found one yet as I'm looking for some advice please
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There is no such thing. Go to a decent broker and look into equity release/lifetime mortgages. I'd never recommend one as there suitability depends on your circumstances.
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You need very specialist advice on this.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
List of some of the drawbacks here. Which include eviction for various reasons.
https://www.citizensadvice.org.uk/debt-and-money/mortgage-problems-debt-and-money/mortgage-problems/sale-and-rent-back-schemes/
And this which explains why the market is dead.
All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.1 -
Precisely. I didn't think that any companies were still about now, it must be over ten years since I had a client bring a proposal to me.elsien said:List of some of the drawbacks here. Which include eviction for various reasons.
https://www.citizensadvice.org.uk/debt-and-money/mortgage-problems-debt-and-money/mortgage-problems/sale-and-rent-back-schemes/
And this which explains why the market is dead.1
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