What to do? Wills, Inheritance, Remortgaging advice please?

My friend who I ve known over 20 years has told me he wants to pass his house on to me when he dies.
I was flattered and upset at the same time as he s a really good friend to me and has known me since I was 11 years old (nearly 35 now).

My situation is good I own my house and I currently need a bigger property to live in as I d like to start a family.
My friends house is just what we need but it s on the wrong side of town (away from our families who aren t in the best of health). I thought about remortgaging my house to invest in my friends to either move into it or sell it on splitting what ever profit we make on it 50/50.

The problem with that is he needs somewhere to live and isn t in great health due to his own neglect and alcoholism which wouldn t be good for me and my girlfriend if we re trying to have children if he was to live with us. So, the question is what to do? His house is really badly run down to the point where it s (almost) uninhabitable due to neglect so he can t really go on living there (safely) as its not fit to live in and he can t really look after himself.

I want him to be looked after (and I do my best helping him, as I ve a terminally ill mum too) but if he sells his home I m almost certain the Govermnent will pretty much take everything off him (money wise) if he needs to go into care which is the way it is in the UK.

So what to do to make this a win, win situation alround for both of us? Any advice is welcomed.

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