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anyone heard of mortgage rescue

  • curlyhead
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24 Apr 12 #326339 by curlyhead
Topic started by curlyhead
where they buy your house and then rent it back to you if so does it work, for seperated couples

  • Tets
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24 Apr 12 #326364 by Tets
Reply from Tets
There''s information about the mortgage rescue scheme here .

That page also details some of the criteria you need to meet namely -
To be eligible for the scheme your household must include someone in ''priority need''. This could be:
a pregnant woman
someone with dependent children
someone who is vulnerable because of old age or a physical or mental impairment
You’ll also need to meet the following criteria:
your household earns less than £60,000 a year
you don’t own a second home, including a home abroad
the value of your mortgage (and any loans taken out against your home) is less than 120 per cent of the value of your home
the value of your home isn’t higher than certain levels set for each region – ask your council about the level for your area
When you apply for the scheme, your local housing authority will talk you through some other criteria that you’ll need to meet.

  • cookie2
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25 Apr 12 #326443 by cookie2
Reply from cookie2
curlyhead wrote:

if so does it work, for seperated couples

Er, you should not be looking to make anything like this "work" for a separated couple. The point of being separated is that you have separate finances. Owning/renting a house jointly is a bad idea.

  • curlyhead
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25 Apr 12 #326583 by curlyhead
Reply from curlyhead
we already owe the house and its about to be repossed and the goverment buy them off you ad then rent them back to you which is what my wife was thinking of doing for her and children and her new partner, but i did not know if seperate couples can do it.

but apparently they can found out today

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