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URGENT HELP NEEDED - RENTING FROM HOUSING ASSOCIATION BUT MUM HAS BEEN IN A HOME help
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I'm not going to comment on the rights or the wrongs.
It looks to me like your aunt bought the property in your name. You say it is on a two year fix, I presume you mean a fixed mortgage on it. So it looks like a mortgage has been taken in your name to fund the purchase (or part fund). I'm guessing that this is a residential mortgage (reasons: you have no other property and possibly an income that wouldn't get a mortgage of the size required). If it is a BTL mortgage then I am surprised you were able to get one while renting elsewhere usually lenders require BTL to be owners of their own property. If the mortgage was obtained as a residential mortgage with the intention (and deed) of letting the property from day 1 , that is fraud - obtaining money by deception. If you did actually live in the property and then let it but not tell the lender you are renting it out, you are in breach of the mortgage conditions; not fraud but not good.
You and your aunt need a chat about this. Where does the rent go? where do the mortgage payments come from? If I was guessing, I would say a bank account has been set up just for this, possibly in your name but with your aunt have access to it?
There is the tax situation to consider. I'm guessing there is only one property. Luckily for you, the revenue is encouraging people to get their tax affairs in order, so they will probaby deal kindly with you. But I would expect to be charged £100 a year for late filing of tax returns and interest on any tax owed.
Then there is the HB on your home to consider. Possibly the HB claim did not make an adjustment for you earning and probably didn't adjust for rental income. This could mean an overpayment of HB was paid which will need to be repaid.
It looks like you won't be evicted as you are on the tenancy, but it is possible that your Mother's HB entitlement could be reviewed. This means that you will have to find more rent if you want to stay in the home.
You need an honest discussion with your aunt, hopefully she will appreciate that some of these problems rest at her door.
There is a way to push the problems on to her. You need to differentiate between the legal registered owner of the property and the beneficial ownership. Beneficial ownership is when the property is in your name on paper but in reality it is your aunts. If the benefit people accept this, then you are in the clear. The problem then becomes your aunts, big time problem with the tax man!
Where do you go with this? To an accountant that has experiance in rentals and self assessment to sort the rental property out and to a benefits expert (shelter or CAB?) to sort out the HB situation. You need to sort the rental property ownership first so that you know whether you can tell the benfit people that you are only owner of the rental property in name alone.
Print this thread out and show it to your aunt.
good luck!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
you guys are so good thank you0
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No trouble, we are happy to help where we can, please keep us informed and let us know how it goes.0
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hey really sorry to hear your mum isn't well. I know how hard it is living with relatives with mental illness and coping with that difficult situation. It sounds like your situation is complex. I would get the house out of your name asap, I can't see that it is much of an investment for you.. if you're not getting any income from it. Not sure what to advise but thinking of you.Top wins in 2018: Trip to Iceland, helicopter ride over london, couples massage, £300 flight from Pringles, trip to Paris, cocktail making class and afternoon tea up the shard. .
Top wins in 2017:holiday to the Bahamas, trip to Paris, meal with champagne, a week in a manor house in France with £500 spending money.0
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