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Has anyone bought house privately to have HA moving in?
thriftybabe
Posts: 689 Forumite
Tentatively asking this question!
OH has been told by Contractor that they are offering a good deal on flats that he is building. There are 6 blocks with 6 flats in each block. Three are being sold offto HA for Shared Equity i.e 70% they pay for with the option purchase following 30% in a few years. He thinks we should may be look at buy-to-let as we are getting a great deal as we are working for them. I am very reluctant to do this because of the current situation and also I am not sure that if the HA do not sell their flats that they will not put social housing in it. Please before everyone goes crazy at me I do know that there are lots of decent people on social as I was on this growing up and we are fairly decent!
The other reason OH is thinking about this is that they are the ones that are hopefully going to keep us going in work - possibly.
Can the HA say that they are selling the houses and then decide that they are going to rent them out?
Everything is telling me not to touch this and have spoken to OH about this. I told him I would put to the moneysaving guys who helped me pull out of buy-to-let a year ago!
Just to let you know we are mortgage free and have savings but still I am reluctant to do this.
OH has been told by Contractor that they are offering a good deal on flats that he is building. There are 6 blocks with 6 flats in each block. Three are being sold offto HA for Shared Equity i.e 70% they pay for with the option purchase following 30% in a few years. He thinks we should may be look at buy-to-let as we are getting a great deal as we are working for them. I am very reluctant to do this because of the current situation and also I am not sure that if the HA do not sell their flats that they will not put social housing in it. Please before everyone goes crazy at me I do know that there are lots of decent people on social as I was on this growing up and we are fairly decent!
The other reason OH is thinking about this is that they are the ones that are hopefully going to keep us going in work - possibly.
Can the HA say that they are selling the houses and then decide that they are going to rent them out?
Everything is telling me not to touch this and have spoken to OH about this. I told him I would put to the moneysaving guys who helped me pull out of buy-to-let a year ago!
Just to let you know we are mortgage free and have savings but still I am reluctant to do this.
0
Comments
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thriftybabe wrote: »T
Can the HA say that they are selling the houses and then decide that they are going to rent them out?
yes this is what normally happens
my understanding is that over 90% of all HA properties are rented.......less than 10% are actually sold0 -
Thanks adr0ck. This is what I suspected. My OH thought this would not happen as they are a better spec of flat that is being built but I have seen that does not matter in the high spec city centre flats that are being let out to anybody.
thanks again0
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