I have recently become a single mum after 11 years together 6 married and I’m looking into my housing options for me and my daughter. I would prefer to buy as I will get my share of the equity from our house sale and would like to buy for better security for myself and my daughter. However the mortgage I can get will not be big enough on just my wage so thought maybe I could part rent part buy??
The question is has anyone gone down the part rent part buy option and do universal credits help you with the rent part?
I got a mortgage last year and they took into account part of my tax credits, child benefit and maintenance as well as my wages it depends where you are getting the mortgage from as to what they will take into account. I had a really good mortgage advisor who was free and did it all for me.
According to the Citizens Advice Bureau you can claim benefit for the part you pay in rent providing you have a rental agreement (see below)
<div class=”d9FyLd” style=”padding: 0px 0px 10px; color: #222222; font-family: arial, sans-serif;”><b>If you</b> pay <b>rent</b> as <b>part</b> of a shared <b>ownership</b> scheme.</div>
<div class=”d9FyLd” style=”padding: 0px 0px 10px; color: #222222; font-family: arial, sans-serif;”><span class=”hgKElc” style=”padding: 0px 8px 0px 0px; color: #222222; font-family: arial, sans-serif;”><b>You can get Housing Benefit</b> for the <b>rent you</b> pay as <b>part</b> of a shared <b>ownership</b> scheme. <b>You</b>’ll need to ask for a written <b>rental</b> agreement with the organisation running the scheme, <b>if you</b> don’t already <b>have one.</b></span></div>
<div>Maybe give them a ring to confirm their information is up to date.</div>