Right to buy - family member

mattrgee

Hi,

My mum is 60+ and up until 2 years ago I was living with her in the council house. I would like to buy the house as security for her and as an investment for me, is this possible under the right to buy scheme?

Thanks.

BitterAndTwisted

I think each local authority has their own rules but it will make a huge difference if you were registered as living there with her and still are. These days the discount is pretty low so it may not be worth it in terms of long-term investment value alone. Also, the resale value might not be what you hope it will be depending on the renter/owner ratio on the development and whether it's a house or a flat.

Having said that, my mother bought her council flat some years ago and she got really walloped by the service charges: she was convinced that the leaseholders' charges were weighted in the renters' favour but she loved her home and was very happy there

Mozette

Why is she not secure as a tennant?

Blacksheep1979

Mozette wrote: »

Why is she not secure as a tennant?

I think what the op means is that they think they can make a quick buck out of the discount and that saying it's to protect their poor old mother will make us all more sympathetic...

BitterAndTwisted

Buying a house is a huge responsibility in terms of maintenance and repairs, so where the LA could be called out to effect repairs in a rental all of that would fall on your own shoulders or your mother's so any "saving" in rent could be eaten up by repairs and you'll not be in a better position at all but a worse one

mattrgee

Blacksheep1979 wrote: »

I think what the op means is that they think they can make a quick buck out of the discount and that saying it's to protect their poor old mother will make us all more sympathetic...

I would hate to be your mother based on those morals.

cheepskate_2

What happens if for some reason you cannot afford the payments, may need to turf your mother out, as she will not get housing benefit
For security the way she is is best, the other way has very little security for your mother.

Blacksheep1979

mattrgee wrote: »

I would hate to be your mother based on those morals.

What, that I'm clever enough to see past your false front? Or that I don't believe it's right to try make a quick buck off the tax payer? Hmmm who is possibly calling the kettle black here? Have a look through my past posts and see if you can find anywhere where I've tried to take money from the government that doesn't belong to me.

mattrgee

Blacksheep1979 wrote: »

What, that I'm clever enough to see past your false front? Or that I don't believe it's right to try make a quick buck off the tax payer? Hmmm who is possibly calling the kettle black here? Have a look through my past posts and see if you can find anywhere where I've tried to take money from the government that doesn't belong to me.

Selling the property was never mentioned in the post. I hope my mum will continue to live in the property for another 30 years or more, if at some point the house needs to be sold to support a change in her circumstances then so be it.

Blacksheep1979 wrote: »

What, that I'm clever enough to see past your false front?

What false front? I've asked an open honest question about a subject I know little about.

Blacksheep1979 wrote: »

Or that I don't believe it's right to try make a quick buck off the tax payer?

As I say, I hope my mum continues to live in the property for another 30 years, I have my own property I don't need another.

Blacksheep1979 wrote: »

Hmmm who is possibly calling the kettle black here?

Please explain.

Blacksheep1979 wrote: »

Have a look through my past posts and see if you can find anywhere where I've tried to take money from the government that doesn't belong to me.

I think you're reading too much into this.

What happens if for some reason you cannot afford the payments, may need to turf your mother out, as she will not get housing benefit
For security the way she is is best, the other way has very little security for your mother.

Thanks cheepskate that's something I hadn't thought of. As a secure tenant you could say she has more security now.

Blacksheep1979 wrote: »

Yay and now this is a forum on how to defraud the government...

You're sounding a bit silly now.

margaretclare

BitterAndTwisted wrote: »

Buying a house is a huge responsibility in terms of maintenance and repairs, so where the LA could be called out to effect repairs in a rental all of that would fall on your own shoulders or your mother's so any "saving" in rent could be eaten up by repairs and you'll not be in a better position at all but a worse one

People with council tenancies are among the most secure people in the UK today. As long as they pay their rent and don't commit anti-social behaviour to annoy their neighbours, there is no way they will lose that tenancy. So where is the point in buying mother's flat for her 'security'? She will never be any more 'secure' in her own home than she is now, and if you buy it but allow her to go on living there she will be a heck of a lot less secure.

I know what I'm talking about. My eldest GD lives in a council flat, at one time I thought of helping her to buy it, but we've all had a rethink. She recently had a new kitchen and bathroom, and they all had new front doors, all that at the council's expense. She has neighbours who regularly smash their own windows and kick theirs and others' doors in - if that happened to her she would have to pay for repairs and she'd never get house insurance. As long as she goes on paying the rent - it gets deducted from her salary as she works for the council - she's as secure as it's possible to be.

mattrgee

margaretclare wrote: »

People with council tenancies are among the most secure people in the UK today. As long as they pay their rent and don't commit anti-social behaviour to annoy their neighbours, there is no way they will lose that tenancy. So where is the point in buying mother's flat for her 'security'? She will never be any more 'secure' in her own home than she is now, and if you buy it but allow her to go on living there she will be a heck of a lot less secure.

I know what I'm talking about. My eldest GD lives in a council flat, at one time I thought of helping her to buy it, but we've all had a rethink. She recently had a new kitchen and bathroom, and they all had new front doors, all that at the council's expense. She has neighbours who regularly smash their own windows and kick theirs and others' doors in - if that happened to her she would have to pay for repairs and she'd never get house insurance. As long as she goes on paying the rent - it gets deducted from her salary as she works for the council - she's as secure as it's possible to be.

Very true, I've got another tab open which lists the benefits of being in a secure tenancy. I'm surprised at how much protection it actually gives.