Right to buy

Rob_the_student

McKneff wrote: »

Well now, at 70 years old it wouldnt be feasible. What happens in 5 years time, if she has to go into a home, who do you think will have to pay for that. Siging the house over to you wont help because she will still be treat as if she still owns it. Its called deprivation of assets.

The house would have to be sold to pay for her care,

Does she claim any benefits, they would be affected because she would be seen to have capital. (ie the house value)

I really think youre living in a dream world, whose to say you and your GF will still be together, whose to say your mother will still be around. Oh the naivety of youth, (meant in the nicest possible way of course)

Are you sure you have dates right, your mum was 49 years old when you were born.

She has a state pension and has her council rent paid for her. I'm honestly not sure whether these would be affected.

Naivety of youth, probly true :P but thats why i came on this forum in the first place.

What the hell!? Yes i am sure i have my dates right and yes she was 49 years old when i was born.

Catblue

Rob_the_student wrote: »

Me, my girlfriend and my mum had a plan that we would buy the house, then after both me and my girlfriend finish university we would live with our parents for 3 years while we save, then all three of us would get a mortgage on a second house while renting the one me and mum live in right now.

She applied last time to check the price, shes done it once every 7 years or so.

If the price she recieved last time is correct, then we would beable to buy outright without a mortgage, unless thats one of the requirements of right to buy.

Oh and shes 70 years old, thats one of the reasons i wouldnt want to leave her to live on her own.

How long till you leave university?

You really think that three years after leaving university that you will own two houses? Where would the money come from?

I presume that both you and your girlfriend have no student debt (or other debt) and lots of savings from somewhere?

How does your girlfriend feel about living with your mum until your mum passes away? Could be for 25 years or so.

terryw

Rob_the_student wrote: »

She has a state pension and has her council rent paid for her. I'm honestly not sure whether these would be affected.

.

Obviously once she owns the house she could not claim for rent as she would not be paying any.

poppy10_2

Rob_the_student wrote: »

What the hell!? Yes i am sure i have my dates right and yes she was 49 years old when i was born.

OK, blatant troll. Bye.

Rob_the_student

I'm not a troll, but this has been somewhat of a reality check. Thanks

poppysarah

You could enquire about having the tenancy put in your name as well if you live there all time time - there are rules about whether this can be done or not. I'm sure someone has a link to them somewhere.

Does your mum get rent paid even though you live there? You should check that she's declaring you are there to be sure.

It's unfair on your mum imo to have the stress of home ownership thrust apon her at 70. She should be taking life easy and not worrying about how she'll repair the boiler on her pension.

Alias_Omega

We purchased our council house a few years ago, we received a discount of £22,000.

We cannot sell the house for 5 years, and the council have first refusal within the first 10 years.


I am unsure how this would stand with your mother handing the house down, she would of have to own the house for more than 10 years, to be able to pass the house to you, without you actually buying the house from her. She could not give it away (Sell for £0) as the council would have buy it first.

You can however, let the house. After 1 year of ownership of our house, we have let it out for more than what we would pay council rent.

So to conclude this..

We were paying £300 a month in council rent
Our mortgage is £290 a month
We rent the house for £390 a month.


I really dont know how this is allowed, but it makes clear & common sense to me.

Good luck,

Alias

Running_Horse

More holes in the story than a Swiss cheese.

17th of July seems to have been a busy day for new members registering and asking silly questions.