We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Suspect company buying a house and renting it back to seller.
Comments
-
unfortunately for you the fact (paper) deeds were still with the deceased is irrelevant as the only definitive record of legal ownership is now held to be the Land Registry's electronic record
as this thread has established, it appears that your friend validly sold the house in 2007 but failed to update their will to reflect that fact1 -
Oh gosh, that's awful, buying their house then evicting them ! Never thought of that. Yes, it certainly could have been a lot worse. Thank you for that.0
-
Evicting or just spiralling the rent to have the same effectTheYorkshireLassie said:Oh gosh, that's awful, buying their house then evicting them ! Never thought of that. Yes, it certainly could have been a lot worse. Thank you for that.0 -
OP I just wanted to say how sorry I am for your situation - both over the loss of your friend and also finding out that it now appears that your friend may have been taken advantage of which must have come as quite a shock.
You handling of the disappointment over the house is to your credit - because let's be honest, it must have been a disappointment, yet all that shines through is your concern over the situation your friend found himself in. Congrats to you for being a jolly decent person - your friend was fortunate to have you in his life.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her10 -
I second thisEssexHebridean said:OP I just wanted to say how sorry I am for your situation - both over the loss of your friend and also finding out that it now appears that your friend may have been taken advantage of which must have come as quite a shock.
You handling of the disappointment over the house is to your credit - because let's be honest, it must have been a disappointment, yet all that shines through is your concern over the situation your friend found himself in. Congrats to you for being a jolly decent person - your friend was fortunate to have you in his life.4 -
Thirded.... and well said, @EssexHebridean
4 -
eddddy said:
As you say, it sounds dodgy. But if I'm reading your post right, at least your friend was able to stay in his house (paying rent) for the last 17 years of his life.
Sadly, there were even worse outcomes for some other people who accepted similar "sell and rent back" deals at cheap prices. Shortly after selling, the new owner would evict them. So the new owner was then free to resell at full price.
It was those kinds of stories that resulted in the government deciding that the activity needed to be regulated by the FCA.
Something similar happened to a neighbour in our street many years ago. The husband had stood as a guarantoor for something, that unfortuantely defaulted and he ended up having to pay out. They sold their house to one of those companies to raise the money, in the hope that within 6 months they would have a turnaround in their finances and would be able to buy the house back. Things didn't work out and they ended up having to move out.
Make £2026 in 2026
Prolific £177.46, TCB £10.90, Everup £27.79, Roadkill £1.17
Total £217.32 10.7%Make £2025 in 2025 Total £2241.23/£2025 110.7%
Prolific £1062.50, Octopoints £6.64, TCB £492.05, Tesco Clubcard challenges £89.90, Misc Sales £321, Airtime £70, Shopmium £53.06, Everup £106.08, Zopa CB £30, Misc survey £10
Make £2024 in 2024 Total £1410/£2024 70%Make £2023 in 2023 Total: £2606.33/£2023 128.8%1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards