I am just starting my fight against a shortfall claim of 40k. This site has been unbelievably good.(posted 7708 days ago)My question is that I have been offered the chance to purchase 1/3 of a flat via a housing asscoiation. I am currently renting. I want to know if this will prejudice my case? Will they assume I have enough to cover their payments? I will only be putting in a 5% deposit for about 75k share, so its not a huge amount. I don't have any savings, but my income is good at the moment. If I do purchase this place i'm thinking my outgoings will rise so as to reduce my disposable income which is a good thing. Also as the property is only part owned they will find it difficult to repossess this new place, especially as there will be less than a few thousand pounds in equity.
Thanks for any help provided