A friend of mine in his early 70s is going through a divorce. His ex has moved out and wants just under half the value of the house. He can’t afford to buy her out as he cannot get equity release or a mortgage. (He has applied for former and been refused, I think due income; been told can’t get mortgage). Any ideas on how he could stay in the house? He needs to raise around £40k. He can afford around £200 pcm. The other slight spanner in the works is it has apparently got Japanese knotweed but from what I can gather, the valuation reflects this (he can’t afford to rectify it as seems to cost c£10k).
Obviously the only option at the moment is to sell up and rent somewhere else until his money runs out. I’m not sure if he claims any benefits but he does get his old age pension.
Just thought I would ask in case anyone had any good ideas?!
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