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Rain'ard

Advice For A Friend Please

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A friend of mine and his family who is renting has been given notice to quit because the landlord wants to sell(This seems to be happen a lot round my way)

He was self employed, presently long term sick and is due to return as soon as he is better.

He sold to rent and has a substantial deposit of 70%

Unfortunately because of his capital he is unable to get benefit and this is dwindling away in rent and living expenses.

As I mention in another thread there is another flat that is up for auction. Even at this stage of the House price situation. Would he be wise to enter into buying if only to protect his dwindling capital, for as he is a builder take residence and improve the place for a home?

Comments welcome so I could pass them on.

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Guest prudence

why is his capital dwindling away. As mortgage and rental rates are roughly equivalent the interest on his capital should be covering his housing costs

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why is his capital dwindling away. As mortgage and rental rates are roughly equivalent the interest on his capital should be covering his housing costs

Thats explained above. He's sick so no income at all coming in. Unemployment and sickness benefit is means tested so if you've over £8,000 of savings you don't get a penny and having sold to rent he has more than £8,000 in savings.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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