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!
Shared ownership with private landlords
notsmithanymore
Posts: 2 Newbie
Hello!
Please could someone advise if it’s technically possible to enter into a shared ownership agreement with a private landlord and be eligible for a mortgage? I have been living in my current privately rented house for 4 years and would love to buy it as it very much feels like home. The landlords are friends who moved abroad and would ideally like to sell but as a single mother I am only eligible for a mortgage covering half of the property’s current value. It would be a devastating loss if the landlords have to sell to someone else in the next few years as we are firmly integrated within the local community and have the best neighbours anyone could wish for! Any advice would be greatly appreciated.
0
Comments
-
No, you’re only going to get a mortgage for a shared ownership scheme with a social landlord.0
-
If your landlords are very well disposed, they might agree to sell it to you with the price payable by instalments. In effect a private mortgage.notsmithanymore said:Hello!Please could someone advise if it’s technically possible to enter into a shared ownership agreement with a private landlord and be eligible for a mortgage? I have been living in my current privately rented house for 4 years and would love to buy it as it very much feels like home. The landlords are friends who moved abroad and would ideally like to sell but as a single mother I am only eligible for a mortgage covering half of the property’s current value. It would be a devastating loss if the landlords have to sell to someone else in the next few years as we are firmly integrated within the local community and have the best neighbours anyone could wish for! Any advice would be greatly appreciated.
It could be a fast way to ruin a friendship though.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.5K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards