Clubbing together with siblings to buy property for parent

[genericperson123]

My father has been asked to leave his rental property as the landlord wants to sell. My siblings and I have considered buying somewhere for him to live, but not sure how it would work. None of us would want to put the property in his name as he is terrible with money.

We already own our home, as does one other sibling (through a mortgage) so would it be classed as a second property? This is all new to us and I'm not even sure where to start. We'd obviously need to get a mortgage though between us we'd have some deposit.

I feel I don't even know where to start as there seem to be so many elements to consider. Has anyone experience of doing a similar thing?

you need legal advice - you and your siblings could see a property specialist to discuss your options, maybe holding a property in a trust for him would be worthwhile but you should really get an expert view so at least you can make an informed decision

he can't have lots of savings if he gets pension credit.
so he might need housing benefit to pay the rent, which he wouldn't get if the landlord is family.
there are lots of complicated issues to consider.
you need to take expert advice.
what if he needed care, even residential care, could the council see this set up as an attempted deprivation of assets.
all v complicated.
good luck.