Hi Richard

Thanks for your comments.
There is actually family involved in our scenario.
The pensioners are my parents and they are willing to help us get a foot in the market. They own their own home and are whishing to move to a smaller home with less maintenance.

As we are aware of the possibilities of vendor finance/property wraps (we are intending to build up a property portfolio ourselves), we were wondering if this would be a safe enough option for my parents.

Rather then just selling it (and having to endure marketing fees for the sale) they would rather have us move into their home and move into a smaller home themselves. Hence, they would like to do a vendor finance deal for us, which will pay for their costs involved for their new home.

We in our turn can then pay out the loan, once we're able to finance ourselves. (due to a previous business going into liquidation my husband has a blemished credit record).

Thanks
Regina