Council House Problem.

jenniferpa

Something that you should consider in this situation, as the tenant is elderly, is what will happen in the event that she needs to enter a care facility. As a homeowner, she would almost certainly have to sell the property in order to pay care fees. Also, as an owner she would no longer be eligible for those housing schemes your local council has for the elderly (i.e. sheltered or extra care facilities). While there are advantages to owning your own home, this may not be the best option for her (as opposed to you). Can she, for example, afford the upkeep, since she will be responsible for paying for repairs. Have you considered the ramifications with regard to any means tested allowances she may receive, since these normally take into account your property as well as savings?

Jennifer

berz_2

Hi Thanks to all of you that have replyed to my problem.The house in question has just this week had full referb by council and extras such as new gas central heating,kitchen,bathroom ect.This is not your standard council house on a council estate.It is the only house left on the small quiet cul de sac that is still owned by the council.The area is the next few streets away from my current home with my parents were i grew up and know everyone around and is on the very edge of town [BEST PLACE] surronded by countryside.So you see this seems perfect for me for the future plus there is quite a lot of land as its a corner plot semi detatched.We had it valued about 6 months ago anyway and they said £41,000 but that was before the work that has been done,but even if they add another 10 grand ide be a fool to pass it up.I need to get my foot on the ladder as im buying on my own and for £100,000 these days will not get you that much,plus i could not afford this kind of money as a single man on an adverage wage.Oh just to say as well the house next door but one to my nans is up for sale for £117,000 and has no were near as much land.Please someone help me to find a company or other ways of making this possible.Cheers.BERZ.

jenniferpa

Berz, I say again - does grandmother really understand the implications? I can see it would be a good deal for you, but consider the following scenario. Shortly after the house is purchased, your grandmother has a stroke which requires full time nursing care. She is now the proud owner (in name at any rate) of a house with a valuation of say, 115,000. After 12 weeks of nursing care, this house will have to be put on the market, because you only get 12 weeks grace. She could sell it to you, but it would have to be at market rates - they look very closely at these things. Could you afford to ante up the additional £55,000 at that point? It doesn't sound likely. Therefore, the house has to be sold to another buyer. You'd be able to redeem the mortgage (assuming you can prove that you lent her the money) but the remaining 55K (less expenses) would then go to fund your grandmother's care. Only when this money was gone (and at approx £650 per week, depending on area, that wouldn't take very long) would local government start to pay.

Jennifer

asandwhen

If it was me id take the risk - worst case if above happened your nan would be able to pay for or at least part of her nursing care - best case she kicks the bucket next week everone's a winner (apart from your nan) :silenced:

carlih1

Hi

You could get over the problem of social care if you can prove that you have lived there for a year, if you have then you have the right to acquire, which means when your nan passes away you take over the tenancy. If you could prove you have lived there for a year i am sure you could get a mortgage in your sole name alongside with the title deeds if you nan agrees.

Seems quite morbid to talk of your nan passing in this way, and i apologise to her for this.

Hope i have helped in some way

c

jockettuk

my brother did a similar thing and bought the father in laws council house.. firstly because my SIL didnt want the family home council or not going to someone else it was were she grew up etc, They have a council flat themselves and the FIL a house so they bought the house and when the time is right they will move in to either help the father in his elderly life or when he passes on. they got there names on the deeds as part owners 1% each so to protect there intrest. It also makes the FIL a lot happier knowing that in his lifetime he couldnt afford to buy his house but that in fact he will after all be able to leave something for his family after his death.. It also means they can get a foot on the ladder that is forever growing and some never able to get to the top without a little shove or help from other means... you go for it and if its best for you then thats all that matters.. but be quick your nan might live for another 10 yrs but then again she might not.

elaine373

Some points to look at if you start to buy the house and your nan needs care......

http://www.direct.gov.uk/HomeAndCommunity/BuyingAndSellingYourHome/BuyingYourHome/BuyingArticles/fs/en?CONTENT_ID=4001397&chk=PXUh36


A mortgage company that specialises in buying of council property.

http://www.amortgage4you.co.uk/right-to-buy.html

There are several opinions on whether this is correct/moral etc, and i have my own opinion, but the op asked for help finding a company to help him buy the house.

If these websites arent any good, just google your area and ask for companies that help you buy your council property.

berz_2

Again, thanks to you all for the info.I will look in to the matter in more detail now im armed with my new knoledge.I will let you all know how i get on and if i land in anymore trouble i will be sure to post a question.On the other hand if there is still anyone who knows other ways or differnt companys etc that speacialise in this type of mortgage please leave a comment as it will be very usefull.Thankyou.berz.