Right to buy advice

furbie85

Just wondering, can my aunt is struggling getting a mortgage for her right to buy low income, can she get a joint mortgage with my hubby? he wont be on the right to buy app as he isnt a tenant, but she is going to alter her will so that if anything happened the house would pass to us as she doesnt have any children and we are very close.

many thanks
:rotfl:

poppysarah

How would she pay the mortgage back? What if she stopped paying it? Your husband could potentially have to pay the whole thing on his own and not be able stop her living there.

Why does she need to buy?

furbie85

she is going to pay what she pays in rent and we pay the difference, she wants to buy it so she has something to leave us

poppysarah

furbie85 wrote: »

she is going to pay what she pays in rent and we pay the difference, she wants to buy it so she has something to leave us

So she wants to leave you something that's potentially a nightmare debt for you? Nice.


Ands what if she needs a care home and has to sell her home to fund it?

Running_Horse

Do you have a home?

If yes, wouldn't it be nice if the house went to a homeless family?

furbie85

We private rent so the homeless can have that.....(joke) im not asking for a moral judgement, you dont know me or my family or what we have been through in our lives, so keep useless comments to yourself thankyou

furbie85

nightmare debt?? dont fully understand what you mean by that

furbie85

and also with regards to the care home, if she remains a tenant she wont have money to pay for it anyway? if she ever god forbid needed to go into a home, we would pay the costs

Running_Horse

I'll say whatever I like within the rules of this site.

If you don't like it, you can keep your own useless comments to yourself.

So you do have a home and don't need your aunt's.

furbie85

okay say your useless comments, anyway we dont own a home do we,and to be honest i asked for advice on mortgage etc not on wether or not i have a home, isnt this a money advice forum, blimey

poppysarah

furbie85 wrote: »

and also with regards to the care home, if she remains a tenant she wont have money to pay for it anyway? if she ever god forbid needed to go into a home, we would pay the costs

You'd pay the costs? If you've got cash to do that then she doesn't need to leave you anything.

She wouldn't have to pay for it if she has no assets or cash - but why complicate things?

If you and her buy the house you'll have a mortgage debt to service. When she stops working she may well not be able to claim HB for it so would have to use her pension which means she'd be worse off.

The debt is one which if either your or your partner lost their job, you might not be able to pay the mortgage topup and so she'd lose her home.