Buying From Your Landlord
Buying from your landlord would work the same as buying a standard residential property as it is private. However, in your particular case it suggests that they are lending you the deposit.
From the information provided above it is being described that you are not look to live in the property but instead rent it out. which means you would not be able to get a standard residential mortgage for various reasons, but mainly your reliance on government benefits and the type of property.
Becoming a Landlord
It might be possible to obtain a commercial mortgage to enable you to run the property as you wish, this is a possibility without certainy. You would need to be able to present a sound business plan based on and future current rental demand, your landlord should have records to help you with this and present it to your local bank manager when applying for the finance.
A good independent mortgage broker with experience of commercial markets would also be able to help you put together a business plan and know which lenders to approach to give you a greater chance of being successful. We recommend that you speak to one before contacting your landlord so that you know exactly what information to get from him.
