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RAS scheme questions

howyanow · 2013-11-02 19:03:02

Hi folks, Just wondering has any one got any experience of using the Ras scheme to rent out a property? It seems a great idea in theory for security but I am always cautious about these things. I was wondering does any1 know what would happen if i were to default on my mortgage and possibly have it re-possessed whilst I…

02-11-2013 7:03pm

#1

howyanow

Registered Users, Registered Users 2 Posts: 449 ✭✭

Join Date: April 2009

Posts: 358

Hi folks,
Just wondering has any one got any experience of using the Ras scheme to rent out a property?

It seems a great idea in theory for security but I am always cautious about these things.

I was wondering does any1 know what would happen if i were to default on my mortgage and possibly have it re-possessed whilst I have a contract with the council,would I be sued for breach of contract by council or would bank be happy to keep the arrangment in place with council and vice versa?

I always look at the pitfalls rather than the positive aspects!!

Has any one had any other difficulties with the scheme?

I have a bit of organising to do before I qualify and getting the cash together to do it may not be worth the hassle but I will let council view it and give approval before I go ahead.
Thanks in advance

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