Newby to the site in need of your help please

McKneff

Geenie wrote: »

£360 a month rent, but you haven't said for what size property! Can they opt to go to a smaller one for less rent?!

I can fully see how this is a great deal for pensioners out of a meagre income, but take advice, as I gather letting for free to family isn't straight forward.

Like i say, it wouldnt be a case of letting because the deeds would have to be in the tenants name, hence they would be owners, not tenants.

and note to the OP, your parents should enquire about any benefits they could be claiming if they are just on State pension and a miners pension.
It's very likely they wuld qualify for extra money.

allycally

Had it occurred to you two that my parents want to be independant and dont want to live with us....thanks for the helpful advice!
I never at any point said this wasnt an investment for us but there are two major purposes to this and as this is a money saving site i imagined i would get advice on here not a lecture on the homeless and housing shortages get off your soap boxes. Not a great first experience i must say......Cheers

poppysarah

Independent enough to let you buy their house?

allycally

Again very helpful and constructive thankyou are you always so quick to judge and get it so wrong.

poppysarah

What have I got wrong?

McKneff

NO it's maybe not in the spirit of the boards, but we didnt judge and get it wrong. It was spot on right. And not quick to judge, i thought about it a lot before posting
you are thinking of yourselves and how much you can make out of the deal, that much is painfully obvious from your posts.
Sign of the times i'm afraid. Its a sad world. Fortunately some of us 'wrinklies' still have social principles

McKneff

allycally wrote: »

Had it occurred to you two that my parents want to be independant and dont want to live with us....thanks for the helpful advice!
I never at any point said this wasnt an investment for us but there are two major purposes to this and as this is a money saving site i imagined i would get advice on here not a lecture on the homeless and housing shortages get off your soap boxes. Not a great first experience i must say......Cheers

1. What are the two major purposes to this, by the way?
2. You couldnt expect not to get a lecutre on homeless and housing shortages, surely

hethmar

I feel that your parents must be able to claim quite a lot of benefits if they are struggling. Advise them to speak to the Citizens Advice Bureau to see what they could get assistance with.

Re your other point, you could not own the property - your parents would be the owners and you could get on a sticky wicket unless you took specialist advice in this. Your parents could in fact be worse off as they would have an asset which may disqualify them from certain benefits and of course, all maintenance and repairs would be down to them and no longer the council. If the flats needed refurbishment of some communal sort, they may be required to pay a share of that amount. If they needed nursing home care then the council would expect the asset to be used towards those costs.

border_collie

sorry didn't read post above

anguk

Moral issues aside, I really would think very long and hard about this. As hethmar has pointed out if your parents needed to go into a nursing or care home the house would have to be sold to pay for their care. This has happened to my Grandmother, she went into a care home 2 years ago and her bungalow (not ex council) had to be sold to pay the fees. It doesn't matter if you paid for the house it will be in your parents name so classed as their assets. You wouldn't be able to get round it by transferring the house into your name at a later date either, rules were brought in to stop people signing their houses over to relatives so they could get care home fees paid by the state.

If they're struggling with money put their details into Entitledto and see if they would be able to claim for any help:
http://www.entitledto.co.uk/default.aspx