I'm trying to buy a house unfortunately I can only get a mortgage for £129k.
(this is for a single application with a £10k deposit that I've saved up). My requirement is a 1 or 2 bedroom with a garage and driveway in a somewhat decent area. Houses that fit this bill are around £165k
I'm sure if I was with a fit young rich women I wouldn't have on issues but anyway.
I am looking at otherwise buying part-buy part rent scheme. As from what I believe you buy a % of the property and rent the remaining percentage from the council.
My worry is that the house would never be mine, and that the council could in effect boot me out by giving me my % cost back and thus leaving me without a home. I'm aware there would probably be notice periods for such like but I would not like to be in that situation anyway.
I'd also be worried that I couldn't modify the house, you know, lower it, some sick rims brap, some double glazing, maybe an extension, you know..
Does anyone have any experience with these sorts of schemes?
Cheers