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AdamD · 06-05-2011, 10:04

Not quite, the arrangement was a bit odd/complicated.

My dad doesn't pay anything, as he put down a large deposit, but as he gets pension credit, the government pays part of the interest on the mortgage. (SMI, which he's applied for in April of this year)

The uncle was supposed to pay off half the mortgage so I could afford to pay my share, because he knew that I couldn't afford to pay the £400ish a month.

Instead, he chose not to pay it off, so myself, him and my dad agreed that I would pay what I can and he would pick up the rest, as he claimed he was going to make a fortune setting up a website.

Then the government launched the SMI (support for mortgage interest scheme) which took over my contribuition, which he was more than happy with.

He knew exactly what I could afford and was happy with it.

There's three brothers on my dad's side of the family, including one in sweden, when their dad (my grandfather) passed away, they all got about 90k each in inheritance

The uncle somehow burnt through over 120k of spare cash in less than 4 years, which seemed to run out sometime back in January, as that's when the bounced direct debits started to come through from my uncle's bank.

The money I get from being on benefit pays for any appliances which break in the house, along with the internet and house insurance.

06-05-2011, 10:04	#133
AdamD Inactive Join Date: Nov 2004 Services: VM 50Mb Posts: 1,665	Re: Need some housing advice. Not quite, the arrangement was a bit odd/complicated. My dad doesn't pay anything, as he put down a large deposit, but as he gets pension credit, the government pays part of the interest on the mortgage. (SMI, which he's applied for in April of this year) The uncle was supposed to pay off half the mortgage so I could afford to pay my share, because he knew that I couldn't afford to pay the £400ish a month. Instead, he chose not to pay it off, so myself, him and my dad agreed that I would pay what I can and he would pick up the rest, as he claimed he was going to make a fortune setting up a website. Then the government launched the SMI (support for mortgage interest scheme) which took over my contribuition, which he was more than happy with. He knew exactly what I could afford and was happy with it. There's three brothers on my dad's side of the family, including one in sweden, when their dad (my grandfather) passed away, they all got about 90k each in inheritance The uncle somehow burnt through over 120k of spare cash in less than 4 years, which seemed to run out sometime back in January, as that's when the bounced direct debits started to come through from my uncle's bank. The money I get from being on benefit pays for any appliances which break in the house, along with the internet and house insurance.