Oliff Associates

Why do you need professional help?

You save time, stress and money.

Is Oliff Associates right for me?

Meet us for an initial discussion and judge for yourself.

We believe we have the ability to listen and understand you and that’s an excellent starting point.

 

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New overtures to buying problems

House purchase often seems so far out of reach.

But ... there are ways to get your own home, even if it means you need to involve others.

But beware the pitfalls!

This may be having your parents as guarantors or shared owners, buying with friends or buying through a Shared Ownership scheme.

Pitfalls — Sharing with Friends

• One person may wish to leave — will you be able to take on this person's share [buy them out and pay their monthly mortgage payments], or find a replacement acceptable to you, and to the lender?
• You fall out with your co-mortgagor. One of you needs to leave? If you want to leave, will the other person be able to buy you out .... or will you have to sell and split the sales proceeds [after considerable expenses].
  And, what if you find the market difficult — perhaps interest rates are rising — and cannot sell?
• One person loses employment and cannot pay their mortgage share. Could you pay this? Have you ensured that everyone on your mortgage has the appropriate protection cover that will pay the mortgage if anyone becomes sick or unemployed?

Should I rent a room?

If you can raise the funds to buy but find the monthly repayments daunting you could rent out a room to help you.