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Q:still living in it. can't remember the proper term, but am thinking of taking up the offer of selling my home (no mortgage) and living off the . What should I be aware of?:confused:


A:Main point is that they will promise you a life long tenancy but actually give you a 6month AST even if they honour the life long bit if they got the cash via a mortgage secured on the property and dont pay the mortgage the bank can repossess and kick you out.

I take it your also aware that they wont give you anything even close to market value for it either (Usually offer you close but then drop substantially following a much lower valuation by their appointed surveyor)
If the OP has gone to one of those companies which buy off the desperate. But in this case the OP has no mortgage and could sell normally and rent elsewhere. Perhaps the OP would clarify?


A:Main point is that they will promise you a life long tenancy but actually give you a 6month AST even if they honour the life long bit if they got the cash via a mortgage secured on the property and dont pay the mortgage the bank can repossess and kick you out.

I take it your also aware that they wont give you anything even close to market value for it either (Usually offer you close but then drop substantially following a much lower valuation by their appointed surveyor)


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