Should I let the Government pay my mortgage?

In the UK you get support almost immediately with housing costs if you don’t have a mortgage and paying a Landlord

My work situation has deteriorated

I pay a mortgage, and I won’t get help for 9 months after claiming full out of work benefits for that period of time

When and if I let them pay me this, they will basically take a stake in my property, and the interest rate is roughly 4% - which is twice my mortgage interest

I will basically be paying interest on interest, and it’s probably quite complicated

But… if I never sell, what do I care where my property goes when I die?

I have no children, or anyone to leave my money too who I like…

Assuming I don’t die young of course.

What would you do?

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I dont pretend to understand the workings of all that, but mum had her interest paid on the mortgage in the 80’s when “Dad” buggered off.

Take all the help you can get.

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That way you’re stuck there for the rest of your life. That’s okay if you like living where you do.

Are you comfortable with staying in this place for the rest of your life?

This is complicated ■■■■ so i may be asking a stupid question. But can or would you sell the property? And get public housing.

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I was thinking that - but didnt want to say it.

Joker would be ideal for a council flat. But after waiting 6 years myself, and i know the area - its no easy feat.

I guess I would be ok with that

If I realised the funds I have I’d have to spend most of it before getting any help at all

If I got a woman pregnant it might work, but no chance of that happening any time soon

:thinking:

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I would take the help if you are comfortable living where you are for some time.

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I don’t know if you have financial problems. Maybe then the government can help you. Or for housing with care. Savings are also helpful for some period.

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I was being sarcastic. I knew a guy at school who did that and he was a dick.

Can you also remove where i live from the forum

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Yeah wtf 88&€77€€€€

Yep sure mate. Hit the request delete button.

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Thanks! Sorry my sarcasm doesn’t go down well here. It got me suspended not so long ago

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Sorry too. Im rather protective of children. And i dont like to see them used - even to gain property, x

I have seen people do it and brag about it. Not really very nice!

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Not sure how the system works but would accept help as long as it helps in the end.
I just got lost wand don’t understand how taxes and interest rates work. But yeah if it helps.

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I would hold onto the mortgage if you can, even if you have to give up part ownership.

Real estate prices almost always go up, so if you decide to move in the future you can sell and get your money back, possibly more.

Housing prices are up 23% here with the latest numbers from December (Ontario, Canada) year over year. That’s a huge increase, and a lot of money, and a healthy profit if you are going to sell.

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