With homes suitable for disabled people being limited in the rented sector, buying a property to let to a disabled relative can provide a good solution.
With many people buying properties to let as an investment, it has become relatively simple to arrange mortgage finance. It is common, however, for the mortgage to be limited to 75% - 85% of the value of the property. This means a reasonable sum of capital will be required. It is very important that financial advice is sought before taking out such a mortgage or re-mortgaging a current home in order to provide capital for a buy to let property.
The disabled person (as a tenant) can apply for a grant for any adaptations required to the property. Information about the process, and how the test of financial means works, is available in the Grants for adaptations or repairs in the property section.
It is very important that any agreement to let or rent a property is arranged on a legally sound basis with advice from a solicitor. A tenancy agreement is essential, the complexity of which can be seen in this sample tenancy agreement. This is particularly important if the tenant intends to claim Housing Benefit.
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