stehouk Posted February 17, 2007 Report Share Posted February 17, 2007 hello i am new to this so please bear with me,i have a chance of buying my mums council house been in it for 25yrs, it is a 3bed semi in a nice cul-de-sac on a corner plot ,i reckon it to be worth around 100k-120k in the northwest. i dont know what discount availiable and what it will cost to buy, funding this is where i am stuck,i am self employed just a couple of years so no books, i have a house that has just been valued at 180k and i owe 50k,i am not sure what to do i am looking to start a portfolio but i do not want to make any mistakes. my mum is in reciept of housing benefit and only pays £80.00 pm i was thinking i could rent it to my mum and take the benefit maybe take out a small mortgage on it to use for my deposit for the next one any advice would be welcome Link to comment Share on other sites More sharing options...
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