Buy to let social housing scheme
1. Bristol city council buy a house by taking out an interest only mortgage
2. Bristol city council will rent you the house for a minimum rent of £140 a month and a maximum rent of £300 a month
3. If you are on a low income, you will still be able to claim housing benefit to pay your rent.
4. Bristol city council will then re-invest your rent payments to buy another house by taking out another interest only mortgage.
Bristol city council will repeat this process until the demand for social housing in Bristol is met.
In 30 years time the house will be worth £1.9million.
In 30 years time “cash in the £1.6 million equity” to repay the original loan and buy more houses.
Average House Price in Bristol £331,000
Bank of Engkand Current Interest Rate 0.5%
Interest Only Mortgage Monthly Repayments £138
1985 average house price £34,000
2015 average house price £195,000