#1
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Hello everyone, first off I must warn you that this thread will probably be quite lengthy and boring but I really don't know what else we can do, here goes.......

Our dilemma -

We owned and lived in a property unsuitable for our son's needs (too small, flights of stairs etc).

We had the house on the market (and still is) for 2 years but to no avail.

We got awarded 'Priority' with the council however they had no suitable properties.

Although our property still hadn't sold we had to leave as I could not get out of the house without someone to help me.

We began renting a suitable property (long term rent).

Old property still not sold - Council understanding of situation - we do receive Housing Benefit & Council Tax Benefit.

Put said mentioned property into auction - still not sold.

So now we don't know what else we can do - It's costing us a fortune paying the mortgage on the property not to mention the council tax (as you only get 6 months where you can have it classed as vacant and allowed not to pay). We can't continue like this - the council have said that we could let the property providing we weren't making financial gain (i.e just covering mortgage) but in order to let things would be horrendously complicated (re-mortgaging as a 'Buy To Let', Finding Tenants, Insurances) etc etc,

Oh and not to mention the fact that just because the Council will allow this i'm sure it would count as Capital in a lot of peoples eyes so would undoubtedly affect other benefits (e.g. Tax Credits).

I am planning on seeing someone at the Citizens Advice Bureaux but thought it was worth a shot to let off steam to your good selves, just incase someone has been in a similar predicament.

Thanks For Reading Folks x
#2
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Wow it is quite complex and one im not to familiar with.
Did they look at a disabled facilities grant to make the property sutiable such as downstairs bedroom and bathroom?
Have you spoken to Shelter at all for advice as they are housing specialists who would no doubt be able to help Smile
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#3
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Hi, have got a bit of experience in this area, I'm sure it will sell eventually when the market picks up but on the meantime have you looked at letting agencies who guarantee the rental income ? There's a few round our area, they take it and administer it and you get your monthly payment even if it's empty- you get less rent than you would if it was just let out normally but that might work in your favour. That would mean that the tenant would be paying the council tax, bills etc.
You dont need to change to buy to let, you can advise the mortgage company when its let out-or not-as long as they're getting their monthly payment theres nothing they can do about it. As for insurance , buildings ins only, less than £10 a month.
Have you written to the mortgage company asking them to reduce your payments to interest only? Another option to reduce the payments.
Hope this helps, you could ring the tax credit people and ask what affest the rental income would have or use the online benefit calculator-there's things you can offset against rental income-letting agent fees, buildings ins, depreciation etc.
If you go on moneysavingexpert.com and ask the question (not on the main page, on the forums) there will be someone else doing this who can advise you.
Hope this helps, best wishes,Mazx
#4
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Hi there, Have you concidered selling it to the companys who buy out homes for those who struggling to sell or need a quick sale? (I understand they dont pay the asking prce of the property but it might be best and only option for you? Think they pay about 60% of what the propertys worth - Say its up for £100k then will pay approx £58-60k
Maybe worth a look just to see how much they would actualy give you and if it would be somthing worthwile to you? Hope you sort smthing asap! Lea x
#5
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I could have written this post myself!! We are in the same situation, although we aren't able to rent another property as we can't afford to pay both rent and mortgage, we're just getting by as it is. Our house will have been on the market for 3 years this christmas, just feel we are totally stuck in a rut, can't even have a lot of Ben's equipment in as there is literally no room. I hope you find a solution, and will be watching this thread with interest x x x

In desperation we looked at 'Homebuyers' etc but it would have cost £300 just for a valuation wether you take them up on the offer or not (something we really can't afford) and from the gist of the information we got, the offer wouldn't have even covered the mortgage.


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