Has anyone deal beside a company call My Home 4 Life surrounded by the UK?
We are looking to potentially use them and would be interested if anyone have have connections next to them and opinion.
Answers:
They appear to be a 'legitimate' company ... (see link)
Basically they buy your house (at their valuation) and rent it spinal column to you ..
From their FAQ ..
"How much will my rent be?
The initial rent we agree will be a minimum rent, and will be reviewed annually in splash near any upward swing within the Halifax House Price Index over the preceding 12 months. The rent (as detailed in our proposition to you) is salaried to us monthly by direct debit or standing directive. The rent does not include rates, council rates or utilities, which will remain your responsibility"
So your rent go up surrounded by splash next to property prices (this could cost you dear within the long run) ...
So 2 prime points :-
1) Get the house valued on the spread out souk first (often these types of deal tender you much smaller amount than bazaar price)
2) It's one and only worth it if you are possible to die within the subsequent few years
If 'Mum' (the house owner) is 70 or 80 years matured and/or within poor vigour, this could be worth a look .. however Mum & kids might be abundantly better sour if the kids buy the house (perhaps via a Trust) & rent it rear to Mum, instead of hand the 'profits' (i.e. increase in worth of house contained by the years untill Mum dies = as a 'rule of thumb'; you can assume the house utility will double every 10 years) to this company ..
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Answers:
They appear to be a 'legitimate' company ... (see link)
Basically they buy your house (at their valuation) and rent it spinal column to you ..
From their FAQ ..
"How much will my rent be?
The initial rent we agree will be a minimum rent, and will be reviewed annually in splash near any upward swing within the Halifax House Price Index over the preceding 12 months. The rent (as detailed in our proposition to you) is salaried to us monthly by direct debit or standing directive. The rent does not include rates, council rates or utilities, which will remain your responsibility"
So your rent go up surrounded by splash next to property prices (this could cost you dear within the long run) ...
So 2 prime points :-
1) Get the house valued on the spread out souk first (often these types of deal tender you much smaller amount than bazaar price)
2) It's one and only worth it if you are possible to die within the subsequent few years
If 'Mum' (the house owner) is 70 or 80 years matured and/or within poor vigour, this could be worth a look .. however Mum & kids might be abundantly better sour if the kids buy the house (perhaps via a Trust) & rent it rear to Mum, instead of hand the 'profits' (i.e. increase in worth of house contained by the years untill Mum dies = as a 'rule of thumb'; you can assume the house utility will double every 10 years) to this company ..