selling property to rent it back

SingleSue

macaque wrote: »

Your children need you and your husband together. Why don't the two of you behave adults and get back together again? Why does the tax payer have to keep bailing out people like you whilst old people suffer from hypothermia in winter. As to what you do with your house, I could not care less.

What an awful and unsympathetic post..unless you know the reasons behind the split, then it is best not to judge.

Ian_Griffiths_Halifax

northernlass wrote: »

thanks silvercar, he will help out as and when he can but that then counts as extra income for me and i get money taken off me so will be worse off in the long run

If it's half his debt, it can't be classed as income for you surely! How about if he paid it direct to the lender so it doesn't come into your account.

Rabiddog_2

Those criteria for Benefit state you WOULD be eligible if he had left, in that case he has left Do you understand? what I am getting at is that only you and him know what the circumstances are, and I suspect on reflection, you both now understand he DID leave.
Let not your own forthrightfulness be an impediment to saving thine own home. (psalms 5 s 2) :A

northernlass_2

Rabiddog wrote: »

Those criteria for Benefit state you WOULD be eligible if he had left, in that case he has left Do you understand? what I am getting at is that only you and him know what the circumstances are, and I suspect on reflection, you both now understand he DID leave.
Let not your own forthrightfulness be an impediment to saving thine own home. (psalms 5 s 2) :A

when we first decided to split and he left i was advised that i would get help from 8 weeks so i went ahead and made a claim for me and the children only to be told after id filled in the forms that if i said on the forms he had deserted me then i would have got help from 8 weeks but as he left through mutual agreement then i will have to wait 39 so im stuck, if i contact the DWP to change my forms now they are going to ask an awful lot of questions and i cant lie to save my life never mind my home

northernlass_2

Ian_Griffiths_Halifax wrote: »

If it's half his debt, it can't be classed as income for you surely! How about if he paid it direct to the lender so it doesn't come into your account.

this is something i could do, the mortgage is still paid out of the old account which i removed my name from so it is now technically his so therefore if he puts money into it then he is just putting money into his bank account and not mine. i never thought of doing it this way but it sounds ok i think.
thank you

inmypocketnottheirs

[quote=Rabiddog;11830751
Let not your own forthrightfulness be an impediment to saving thine own home. (psalms 5 s 2) :A[/quote]

That is a fantastic quote!

Geoff_S_2

Northernlass. please please don't sell to northeast property buyers, My mother and father are going to be homeless soon, because northeast property buyers have failed to pay the mortgage and a repossession order is in place. and they owe him £34,000. If you did sell and rent back and your name was on the mortgage you won't get housing benefit has it will be classed has a contrived tenancy.

Prudent

inmypocketnottheirs wrote: »

That is a fantastic quote!

It may be, but I am baffled by it, as it doesn't come from psalms.

Prudent

Op, I think your ex can give you £20 a week without it impacting on your benefits. Would that be enough to allow you to pay the mortgage?

googler

The Dept of Trade & Industry are investigating sale and rent back companies, with a view to regulating them. They aren't regulated at the moment.

If you sell to them, then rent from them, you have a tenancy agreement with them for a period of time, and they, having bought from you, either own the property outright, or are paying a BTL mortgage on it.

If they own outright and go bust, or default on their mortgage payts for any reason, you don't have any rights as its no longer your house. Your tenancy won't matter a d**n to the mortgage company pursuing for repossession, or the administrator looking to sell assets and pay off creditors....