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Buying Council House
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Is it possible for someone other than the tenant to buy a council house, if the tenant cannot get a mortgage, could a relative buy the house for the tenant to live in?
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For more on marking an answer as the "Best Answer", please visit our FAQ.Is it not much the same as a normal mortgage in that it is the moneylender who actually retains title to the property until the borrowed amount is repaid? Can`t see a problem if it`s a relative supplying the funding as long as the `life tenancy` is assured. I`m sure this has been done many times before but be sure to get legal advice.All sorts of inherintace rights and other issues may muddy the waters.