[jambutty]

Originally Posted by jackyalex

yes they still pay the interest on the mortgage, i wish i could just afford a mortgage, but we cant get one for the price of housing now, its cheaper for us to rent, the private rent is alot more per week compared to council or h/a housing, though it doesnt matter to those that get it paid for them

As far as I know the rent for private accommodation is not paid in full. The amount that is paid is the amount that the Council would charge for similar property.

Where do you think all this private accommodation came from? Most would be repossessed when the mortgage holder was no longer able to pay the mortgage and was sold off for the best price to clear the outstanding mortgage. There are many reasons why someone could not keep up the mortgage but for many it would be down to job losses, because of ‘downsizing’ to increase profits.

Buying repossessed property to rent out is big business these days.