Mortgage broker that allows you to rent part as well.

djwmcnae

Hi all,
I did try searching but got the wrong results. I currently own a shared ownership house run by the local housing association, so we have a mortgage on part of the house and pay rent on the other part. Only draw back is you have to buy a house that's on the shared ownership scheme.

I'm sure about a year ago I found a broker that would offer the same concept, buy part, rent part, but on any house (with in reason) but I can no longer find this broker.

Have you heard pf a broker offering this service or am I going mad!

Thanks

DE_612183

The only way this can be done is if an entity owns the house and is will ing to sell part and rent the rest - housing associations do this - not sure who else would ( builders perhaps? or local councils ).

ACG

I dont think it is a broker. 
But I have seen what you are talking about, I cant think of the company though. I would be very careful, its very likely you will end up overpaying - nobody is doing this out of the goodness of their heart and I can imagine it is done in a way that is not regulated, so no real protection... If they insist on you also using their solicitors I think I would run a mile if you do manage to find them.

I think this is more likely to be dodgy than it is genuine. 

kingstreet

DIYSO - do it yourself shared-ownership, was a thing in the 90s. Not sure if it's still available. Local authority housing departments used to champion this as the shared owner needed to be a registered social landlord.

djwmcnae

Thank you all for your replies, i think ill bin that idea then!