Council House Problem.

berz_2

Hi.im In Some Need Of Advice.my Nanan !!82} Has Lived In A Council House For About 40 Years And Ive Been Enquiring About Buying It.ive Been Told In Order To Do This I Have To Arrange A Company To Borrow Me £60000 To Give My Nan To Buy The House.then When Shes Gone The House Will Be Left To Me.is There Any Easyer Way To Do This Other Than Persons Living At The Address.ive Been Told About A Few Companys Who Specialise In This Kind Of Thing So I Know Its Not Impossible.any Company Names And Advice Would Be Very Gratefull.oh And I Was Also Told I Could Do A Interest Only Plan For £60000 Around £250 A Month Then When My Nans Gone And I Have To Move In Put It To The Normal Payment.the Problem Being To Keep Payments To A Minimum Till I Could Move In As My Nan Could In Fact Live For Anouther 10 Years.bad To Think Like That I Know But What Do I Do.many Thanks. Berz.

silvercar

Right-to-buy was designed for people to buy their own homes, not for relatives to get rich quick!

There are a few problems with what you are trying to do. Firstly the council can claim back some of the discount if the property is sold within the first few years. This could be a problem if your Nan needs to sell her home to pay for residential care.
there are also inheritance tax issues.

£250 per month would be the normal payment on an interest only mortgage at 5%.

Capital letters go at the beginning of every sentence not the beginning of every word, it makes your comments hard to read.

berz_2

Hi.Thanks for the advice and the english lesson.Im not wanting to get rich quick i want a home as my nan says it would be a shame if no family member took advantage of the discount.

ioscorpio

I personally do not approve of Council House sales. I have lived in a Council flat when I was first married and was grateful for it, but then bought our own house, which then allowed another family to have their own council home. (The whole purpose of social housing) The problem is it's NOT your Nan's house to pass on, it the council's unless she buys it, but she's unlikely to get a mortgage at her age. So the house should rightfully go to another family in need of a council house.

asandwhen

I totally agree with buying council houses - dont listen to that socialist babble above - If your Nan has been paying council rent for 40yrs and you work hard and earn enough money to buy it then why not? -

ioscorpio

If it was not for that socialist babble above, Berz's Nan would not have had a house to live in for 40 years. Bearing in mind she's now 82, she would have been 42 when she moved into the house, it would be interesting to know where she lived before that. I would also move older residents out of large houses in order to move families in. Also one of the reasons today why young people are struggling to get on the housing ladder is because of the lack of available council houses.

bobsa1

I don't think other relatives should take advantage of older peoples RTB, it is not the relatives right to get a discounted property.

This is just my opinion!

potnoodle_2

my mum had a council house for 20+ years, as her daughter i got a joint mortgage with her under the right to buy, she moved out and got married, i sold house a few years later which got me a good foot on the property ladder, now own my new property outright. like the other poster says, if she has paid rent all those years, you are entitiled to an investment from it. she wont get a mortgage because of her age but maybe you could speak to financial bods, see if you could borrow money and lend it to her, then get put on the deeds or whatever. good luck.

orthopod

Oh come on. Berz is probably a hard working man paying his taxes and so is his nan. They deserve a better standard of living. Berz wants to buy the house not steal it like the refugee and asylum seekers. So i say, go for it. Its worth it.

Woby_Tide

orthopod wrote:

Oh come on. Berz is probably a hard working man paying his taxes and so is his nan. They deserve a better standard of living. Berz wants to buy the house not steal it like the refugee and asylum seekers. So i say, go for it. Its worth it.

if you weren't such a bigot I'd probably point out how you've no idea what anyones circumstances are whether they are berz nor a 'refugee or asylum seeker' (they are all lazy spongers though aren't they....:rolleyes: )

m00nie

please can we keep it on track and polite..

thanks

m00nie