I stopped half-way through a blog last night because I had an epiphany. I suddenly have enough money for a downpayment on a house, and my mum is having problems with her rent. Why don’t I buy my mum’s house?
I rang Donna, who knows about all that kind of stuff as she works for a bank, and she said that my deposit, plus the discount you get for buying a council house, would get my mum a mortgage lower than she is paying now with benefits. The problem is that mum may not have any credit (that woman has never had a credit card, and only opened a bank account a few years ago) but I do. So, I can gift mum the money and she can buy the house with me as a co-signer. Donna said that she’s not sure what the regulations are for a second person co-signing on a council house buy, but to look into it.
This morning, I went into work late so I could call mum and talk to her about it. At first she was all trepidatious, ‘Oh, I don’t know. I don’t want to put you out. All that shit.’ But in the end she’s come around.
I’ve then was on the phone trying to sort out if she can buy the house, how much it would cost, the mortgage, and it looks like it’s all a go. It doesn’t look like I can be a joint applicant to buy the house, because I haven’t lived with mum for years, but I can give her the money for the mortgage and then write up an agreement that if she sells I get a certain percentage in return.
Of course this means I’ll be back to being broke, but 1) I have a steady job 2) I’ve now got equity in a house. Not that I’d ever force mum to sell her house, but if she gets to an age where she has to move because she can’t do the stairs or some such, we’ve can sell the house and use the proceeds for assisted living (because she’s not living with me).
Right, back to the kind of freeking out thing. How did I get old enough to own two homes?
Now, I need to get back to work. I’ve been packing boxes all day as Giles has this new office ready to be moved into on Monday.
PS-Dad won’t come get Katie. He said she’s grown-up and needs to sort her self out. Mum won’t make her go back to Kingston. But I as fuck don’t want her.