Council House Purchase

McKneff

I think he might be in for a shock. You say he thinks he will get it for £20/30K
He needs to find out exactly how much he can buy it for first before doing any planning. If there is a cap and its very likely that there is and he is unaware, he may decide then that he cant afford it. If there is a cap, its capped for everyone and it doesnt matter how long he has lived in the property

iwantoneplease

£38,000 in the South East, unless your home is in the local authority areas of:

Chiltern

Epsom & Ewell

Hart

Oxford

Reading

Reigate & Banstead

Tonbridge & Malling

Vale of the White Horse

West Berkshire

In these local authority areas, the maximum discount is £16,000; £34,000 in the Eastern Region (unless your home is in Watford where the maximum discount is £16,000)

£30,000 in the South West

£26,000 in the North West, and the West Midlands

£24,000 in the East Midlands, and Yorkshire and the Humber

£22,000 in the North East

£16,000 in Wales

£16,000 in London (unless your home is in Barking and Dagenham or Havering, where the maximum discount is £38,000).

Information taken from http://www.communities.gov.uk/documents/housing/pdf/138178.pdf page 12

kriss_boy

sammyjammy wrote: »

What makes you think those that buy their council house don't work 9 to 5 or longer?

As said above there is a cap so they don't get for a third of the value and they also have to repay a % of the value if they sell within a period of time.

Supposing they do, they are still getting a house at a fraction of its value?

I just wondered how it works.

I bumped into a mate who said he was buying his mums council house and getting it dirt cheap, I was naturally a bit miffed that he appeared to be getting an opportunity like that.

I just wondered how it worked thats all.

juliesg

kriss_boy wrote: »

Supposing they do, they are still getting a house at a fraction of its value?

I just wondered how it works.

I bumped into a mate who said he was buying his mums council house and getting it dirt cheap, I was naturally a bit miffed that he appeared to be getting an opportunity like that.

I just wondered how it worked thats all.

if he dont live there he cany buy his mujm house you have to be a tennant and prove you have been for at least a year

McKneff

kriss_boy wrote: »

Supposing they do, they are still getting a house at a fraction of its value?

I just wondered how it works.

I bumped into a mate who said he was buying his mums council house and getting it dirt cheap, I was naturally a bit miffed that he appeared to be getting an opportunity like that.

I just wondered how it worked thats all.

He wouldnt be able to buy it - only the named tenant can buy a council house. He would have had to have given his mother the money to buy it and it would have to be in his mothers name. The mortgage would have to be in his mothers name if she could prove she could afford one. So there are checks against unscrupulous people coming along and trying to make a killing on the backs of other council tenants and so there should be.

nikkiandmidgets

iwantoneplease wrote: »

£38,000 in the South East, unless your home is in the local authority areas of:

Chiltern

Epsom & Ewell

Hart

Oxford

Reading

Reigate & Banstead

Tonbridge & Malling

Vale of the White Horse

West Berkshire

In these local authority areas, the maximum discount is £16,000; £34,000 in the Eastern Region (unless your home is in Watford where the maximum discount is £16,000)

£30,000 in the South West

£26,000 in the North West, and the West Midlands

£24,000 in the East Midlands, and Yorkshire and the Humber

£22,000 in the North East

£16,000 in Wales

£16,000 in London (unless your home is in Barking and Dagenham or Havering, where the maximum discount is £38,000).

Information taken from http://www.communities.gov.uk/documents/housing/pdf/138178.pdf page 12

He is in scotland and from what i can see they have areas which are known as Pressured area status but that only applies if you have been in house after sept 30 2002 and states on site discount will be between 20 and 70% depending on length of tenancy so think he should be okay there, as his area isnt listed in the list of pressured areas, and even if it becomes one, he has still been in it before the cut off date.

sweety

My parents are wanting to buy their council house - joint tenants for 40+ years - and my home for 35 years.......but cant afford it without my financial help. Whilst my folks are applying in their names how can i help with the process ie when it comes to getting a mortgage at 72 will i have to take this on for them and then the property deeds be in my name or can we do this jointly or in their names ?? I guess my question is how to help.......does anyone know what happens or have done this already?

thanks to all who reply

sweety

xxxx