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right to buy
shellybelly_3
Posts: 43 Forumite
Hi
I'm hoping someone can give me a little advice.
I'm (hopefully) planning to buy my parents house (local authority). However as i don't live there would i be entitled to the right to buy discount. And if so how would i go about getting a buy to let mortgage.
Any info much appreciated.
I'm hoping someone can give me a little advice.
I'm (hopefully) planning to buy my parents house (local authority). However as i don't live there would i be entitled to the right to buy discount. And if so how would i go about getting a buy to let mortgage.
Any info much appreciated.
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Comments
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Takes seat, opens the popcorn, waits for the onslaught to arrive........I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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only your parents would have the right to buy i.e. the names on the lease. as far as i know you would not be able to get a mortgage for the purchase, this would need to be in your parents name.
btw - are you evicting your parents?
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lowis wrote:only your parents would have the right to buy i.e. the names on the lease. as far as i know you would not be able to get a mortgage for the purchase, this would need to be in your parents name.
btw - are you evicting your parents?
no of course not. I just thought it would be a good investment as we could get it for about 50k and its worth about 120k :rotfl:0 -
shellybelly wrote:no of course not. I just thought it would be a good investment as we could get it for about 50k and its worth about 120k :rotfl:
I would be very surprised if that is the case..
There is a cap on the discount of RTB properties (Houses).. of £32-35K depending on location.
There are diffent levels for flats..
but the days of a 58% discount have all gone..The only place where success comes before work is the dictionary…
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well i'm sorry but this is the case.0
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shellybelly wrote:well i'm sorry but this is the case.
hey no need to appologise, just thought I would share my experances have just gone through the RTB process..
I wish you the best of luck, and hope it goes well for you.The only place where success comes before work is the dictionary…
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here is a guide to current discounts available - most areaas are now only 16k
http://www.odpm.gov.uk/index.asp?id=1151291#P95_12183
luckily i got in before they slashed it. unluckily i didn't get in before the 40-50% maximum allowance discount :-(0
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