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Next Housing Recession in 2020, Predicts Zillow
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Anonymous Coward |
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Had the council phone me up today to ask do I want to buy my 1 bed council flat for under half price. I said I'm not working, getting full housing benefit to pay rent, but they said I can still buy & that housing benefit will pay the mortgage for me, without a deposit needed or paying back interest rates. Can sub-let it & sell at full market price in 3 to 5 years after buying. This is much better than the offer they made 10 years ago. I know some tenants who've done it, but I'm over 20 years tenant, so can apply for up to 75% off the market price, get a full interest free mortgage. Some people I know who did it, now live over in Ireland, Spain, Portugal or Greece running their own business, home bought and paid for. Think I might go for it, but have to suss it out first I suppose. This is the Tories trying to sell off the old housing stock then. Can buy for under £50k, sell for at least £300K or more, or £300+ sub-letting, which some people do. Mmmm..? Any other British here tempted by this, & how did you do after the Right to Buy scheme?
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