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Moving from Bought House to Long-Term Rented

124

Comments

  • Kieran2001
    Kieran2001 Posts: 24 Forumite
    AnotherJoe wrote: »
    Your mum needs to be saved from herself.

    Other son is going to have to lump it.

    She sells in the normal way to get best price, and moves into rented.

    Anything else is perverse and more expensive

    3 Bedrooms are only £25 more than 2 Bedroom houses, so that part really doesn’t make any diffence. Also, she’s can’t afford all the sale fees, evaluations etc.
  • Kieran2001
    Kieran2001 Posts: 24 Forumite
    dimbo61 wrote: »
    Minimum wage for someone over 25 is £7.83 an hour.
    60X 7.83 is alot more than £900 a month.
    Mum needs to stay in the property until it is sold.
    She needs to speak to a Good solicitor so her ex cannot run up any more debts in her name or use the property as security on a loan or other debts.
    PS your dad maybe entitled to 50% of the equity in the property.

    She works alternate weeks, and she doesn’t like the job TBH neither, as she gets 0 work befits beyond that legally required, despite working for 20 Years, and pension is a mear £500, which is a laughing stock.

    And she is aware of the 50% split on any earnings from a sale. The only thing tied to both names is the mortgage, unfortunately the largest asset. On top of this her ex is pushing her to sell the house, as he is trying to get as much money as possible from her.
  • Kieran2001
    Kieran2001 Posts: 24 Forumite
    She also doesn!!!8217;t want to be dealing with constantly returning letters, and more than likely having numerous high court enforment officers turn up, as all his debts are registered as my mams house.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    Kieran2001 wrote: »
    3 Bedrooms are only £25 more than 2 Bedroom houses, so that part really doesn’t make any diffence. Also, she’s can’t afford all the sale fees, evaluations etc.

    They get paid out when the house is sold not up front. If she can't afford the sales fees she cannot afford the rent.
  • Kieran2001
    Kieran2001 Posts: 24 Forumite
    Cakeguts wrote: »
    They get paid out when the house is sold not up front. If she can't afford the sales fees she cannot afford the rent.

    Most agents charge over double, unless you pay up front from what I’ve seen. And some fees will probably have to be paid regardless of a sale.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    Kieran2001 wrote: »
    She works alternate weeks, and she doesn!!!8217;t like the job TBH neither, as she gets 0 work befits beyond that legally required, despite working for 20 Years, and pension is a mear £500, which is a laughing stock.

    And she is aware of the 50% split on any earnings from a sale. The only thing tied to both names is the mortgage, unfortunately the largest asset. On top of this her ex is pushing her to sell the house, as he is trying to get as much money as possible from her.

    Well that is good isn't it because she wants to sell the house. She still won't get any benefits and she won't get benefits for a 3 bed house when only 2 people live there. Your brother will be expected to find his own accommodation.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    Kieran2001 wrote: »
    Most agents charge over double, unless you pay up front from what I’ve seen. And some fees will probably have to be paid regardless of a sale.

    Well find one that doesn't.
  • Kieran2001
    Kieran2001 Posts: 24 Forumite
    Penitent wrote: »
    I thought you weren't in contact?



    "Not at this address. Return to sender." Yes, it's annoying, but it's a really bad reason to go down this bizarre route that's going to leave her financially worse off.

    BTW - you also said you DLA appeal isn't complete. What stage is it at? Has the Tribunal made an award? If not, then there's no guarantee that you'll get the amount you think you'll get. I've been fighting over my PIP for nearly two years (I had to go to the Upper Tribunal). I know what I'm likely to receive at this point, but there's no guarantee until it's reheard by the First Tier Tribunal and I know whether or not the DWP intend to appeal.

    I’ve got a cover letter saying I’m entitled, but the points all say zero, only got the letter a few weeks ago.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    Penitent wrote: »
    She might: http://forums.moneysavingexpert.com/showpost.php?p=73849620&postcount=6

    But not while she still has a house she could be living in.

    Thank you.

    I am beginning to lose the will to live.......
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    None of the reasons you have given are good ones for not selling the house before moving into rented. The fact that her ex wants her to sell the house is good because that means he isn't going to block the sale.

    All the rest the letters, pipes, mortgage, estate agents fees etc are not good reasons not to sell the house.

    If your mum can't afford to pay the mortgage and mend the pipes then she can't afford to do all that and pay rent at the same time. She will not get benefits to help pay the rent while she still owns a house. She will have to sell the house first. If she fails to pay the rent the landlord will take her to court to get the house back. The council will not rehouse her. They don't give council houses to people who already own houses or who do not pay their rent.

    Councils run extensive checks on people before they give them any benefits.
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