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UC+ islamic mortgage
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yeovalley
Posts: 5 Forumite
I've been given two section 21 notices in the past two years and it's been a very frustrating time. I know that universal credit gives the rent share for the shared ownership scheme but I was wondering if they would also do that in the case of a Muslim mortgage provider who also charge a rent for the portion that isn't owned. For example, I own 20% in the property, I will be charged rent for 80% of the property. Is this allowed? None of the rent payment goes towards my own share ever. But like shared ownership, I can buy more of the property and accordingly the part I need to pay rent on reduces. This is because I can't take a traditional mortgage due to the area I'm in.
Any thoughts, would UC front the rent part? Does anyone know?
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duplicate thread - also asked over on the benefits board
UC+ islamic mortgage — MoneySavingExpert Forum2
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