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How can i buy a house in monthly instalments legaly

I am currently renting a house and the landlord as given me the offer to purchase the house I have a small deposit to put down but can't get the finance to pay the remaining as I don't have a good credit score. my landlord then offers me to do the following give a deposit of £10.000 and pay the remaining at £1000 a month until the balance is paid I will not need to pay rent as they will be adding a fee on the total for example the house is worth £70000 they will charge me £80000 my name will not be put on the deeds until the final payment is due they have said it will be done with a solicitor and I need to make a payment every month into there bank account is this legal? am I safe or can I be cheated in any way? also what happens if they after getting payments from me then go bankcrupt or get a debt relief order? I really like the house and want to buy it in this way but I need to know if it safe as I don't want to loose my hard earned money! any advise please

Asked on Apr 9 2014, General in Chesterfield | Report content

Answers (1)

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  • Go see a solicitor........... ...

    Answered on Jul 31 2014, Report content

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