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Council tax/Renting question
Comments
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If you intended letting the property, you would have to take it off the market, so it is a case of deciding one way or another.
You also need consent from the lender, this is unlikely if you have arrears. Your other option is to move to a buy-to-let mortgage, but again there could be difficulties finding a lender prepared to consider you if you have bad credit and a low income.
You also need to consider if you can afford to maintain the property as a landlord.
You really need to work out why it is not selling. Are you getting viewers? When you say you "are literally giving the house away" clearly you are not (and certainly not 'literally') or an investor would have snapped it up.
If you are happy to do so, put the rightmove link or post code on here and see what people say. Or for the less brave, name the town and size of property and rough price and see if people think it reasonable.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Hello,
Thank you for your this. Your thoughts / experience please .....
The property has had offers but very low worse case scenario will have to take one before the 26 weeks period ....
The housing association group are reputable and have sheltered accommodation in the area. I have/ will set out all my benefits i get if they can match it or better on a 5 year + lease thought about let them taking it ( this gives me time to get well mentally & physically)
First time ever on benefits so new to it all.
Has anyone ever done this ? Advantages / disadvantages impact on benefits .....
Thank you for responding just fed up of It all - currently filling out A64 form about the house - they have everything already as they paid the interest only on my mortgage for the last year....more info .... Had anyone ever done this .. Thank you for responding good bad informative or other .....0 -
Hello Jamie , what does AST stand for ?0
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Hello,
Thank you for your this. Your thoughts / experience please .....
The property has had offers but very low worse case scenario will have to take one before the 26 weeks period ....
The housing association group are reputable and have sheltered accommodation in the area. I have/ will set out all my benefits i get if they can match it or better on a 5 year + lease thought about let them taking it ( this gives me time to get well mentally & physically)
First time ever on benefits so new to it all.
Has anyone ever done this ? Advantages / disadvantages impact on benefits .....
Thank you for responding just fed up of It all - currently filling out A64 form about the house - they have everything already as they paid the interest only on my mortgage for the last year....more info .... Had anyone ever done this .. Thank you for responding good bad informative or other .....
You really need to speak to your mortgage lender.
If the Housing Association offers you a good deal then it may be viable. Presumably they would take over management of the property.
You say you have mortgage arrears. What is the lender doing about these? Presumably at the moment they are not enforcing them because you are trying to sell and they will be able to recoup the arrears. What would happen to these arrears if you struck a deal with the HA/
Get the offer from the HA (in writing - check all the terms and conditions - ask here if you want any help) and if it is a good deal financially then speak to your mortgage lender before you agree to anything.
The 26 weeks is discretionary and can be extended. Have you had the house valued by estate agents?0 -
Hello, pylindpoo,
Thanks for this0 -
Cheers i will let you know what they come back with: with the type of cliental they want to put in each room, what they would draw down per person per room ... I am keen to see what the proposal will be ...
Will keep you updated .... Thank you all who have responded0
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