parent buys daughter a house.

shegirl

max123 wrote: »

how can i be nasty, i havent done anything, this is purely an idea, at the moment and if the solicitor thinks its a bad idea, no one will go ahead.

What the hell is wrong with you?

Who gives a !!!! if the solicitor thinks it's a bad idea ANYONE WITH AN OUNCE OF DECENCY OR MORALS WOULD THINK IT'S A DISGRACEFUL IDEA!!!!

Again...why do you need to buy your house?YOU DON'T.And if you don't you reckon your mother would have to pay £100 a week rent?!!!!!! poor woman,with a daughter like you she would be a million times better off in a care home!

max123

gettingready wrote: »

Ermmm no - it is YOUR mum and you simply owe it to her - she brought YOU up, hasn't she?

Borrowing lump sum money from your son and giving it back over 14 years (!!), interest free too I guess?

Waiting for yoru dad to die so you can get your 15k share?

Woman, you are using your family for your own advantage, no matter how you dress it up to make it look different.

i never said that i was doing my mum a favour, quite the opposite, i do owe it to her. i said i would be doing the state a favour, saving them a job. i dont think im doing mum a favour, she family and we all owe her. there is a difference, what i consider a favour to the stae or my mum. she would be doing me the favour of her company.

Jenniefour

I think your mother needs urgent legal advice, concerning the possible serious disadvantages to her of going along with this, someone who can advise her, from an unbiased position, what her options are, including both living in residential care and living with you. The plan you describe has some possible serious consequences for you as well as your mother, which you have clearly not thought through at the moment. How do you imagine your mother would feel if at a later time you had to sell your home to pay for her care? I would suggest there are two parts of your plan that need taking out of the frame altogether - using any money from your son, and buying your home as a result of selling your mothers flat, because both may disrupt good family relationships in future. What is so bad about renting? This is the way to keep up the security of you having somewhere to live, especially as you are unemployed and dependent on state benefits.

And has your mother had the opportunity to visit the care home yet? Regardless of all the negative stories on the news from time to time, quite a number of them are actually well run and people who live there feel at home and are well cared for. And you and your mother will both retain some independence. If your mother prefers to live with you and you would like to be her carer then why not simply sell her flat and put the money into your mothers savings account? If it turns out that this arrangement is not suitable, for whatever reasons, then you and she have the peace of mind of knowing that the money for her to live in residential care will be there on completion of the sale - and if you're fortunate, the money might already be sitting in your mothers savings account.

max123

:jThank you for your kind and honest words. i was hoping someone like you might have a realistic and fair idea. some people on here just want to jugde!!!
If we rent out mums flat, the profit she makes would have to pay my rent £100 per week inc. council tax.
why would mum want to use her profit to pay the council rent, when she could pay the mortgage instead, and own the council house !!! As mum would be living in the council house and have huge assets of her own, (either in property or savings) we do not qualify for housing benefit. why would we if one resident has all that savings !!!
Now your thinking yes but mum has paid all her daughter's mortgage with her savings! well how about if the council house , nearly all paid for by mum, goes into mums name and she owns it, as she paid for it. After one year of living there she can do this. now mum owns a 3 bed house instead of a 1 bed flat., that she brought with her money from the flat. inorder not to touch ANYONES savings my mums, my sons ect; i can take out a small mortgage for 30k over 25 yrs, paid back at 35 a week.i will pay the repayments, mum will own the house and both mum and the son kept their savings. this is the last post im gonna make as you do not get expert money saving advise on here! you dont even speak to a money saving expert. any one in a similar situation see HMRC web site, her magestys revenue and customs site, gives excellent advise on all kinds of taxes. and natwest mortgage calculator is good too.As for the post that said they would like to sort me out, my mum would sort you out, if she heard you. lol so would I. thanx everyone and look after your elderly parevts, dont stick them in a home, just coz they commted the offence of getting old!! ps i did take mum to view the care home, mums sister came too, they both hated it, and mum pleaded to live with me. byeee. if you need sound financial advice your on the wrong site !

Moglet

Good grief.

How do you expect to get a mortgage without a job?

How do your brother and sister feel about you ending up with all the proceeds from your mothers home (if we're looking at it like that)? Perhaps she could sell her flat and move into one of their homes?

What are the reasons again for not continuing to rent?

You mention leaving something to your children...what if you need care in your later years and there's nothing left to leave....as has been mentioned could happen with your Father?

annie123

In addition to having a stroke my mum has delusional psychosis, having a conversation with can be funny, challenging, exasperated and enlightening all at the same time!.
Mum was furious and depressed at the thought of leaving hospital after her stroke and going to a mental health care home for a while whilst she was assessed and adaptations made to her home.
She sulked, blamed me for not stopping it etc etc.

She has been there 2months and likes it, it has age ranges 18-85, she likes having food cooked for her, rooms cleaned, the company of others and as she says very happy there.

But she still wants to go back to her own home she says.

So without her knowledge, she will be there for quite a few more months to see if she settles as defered payment has been arranged by her social worker.
If she does settle in there, then fine I will sell her house to pay for the fees, if she doesn't then she will go back home and fees payed for out of her pension that hasn't been collected whilst she is there.

If your mum tries it, she may be surprised, it can take a while to settle in.
I have found mums social worker very helpful with ideas and arrangements, work with the SW not against them and I'm sure you will arrive at the right decision for your mum.

What we want in life and what we need are often different things.

sarahcoles_2

Don't have a clear picture about that

shegirl

max123 wrote: »

:jThank you for your kind and honest words. i was hoping someone like you might have a realistic and fair idea. some people on here just want to jugde!!!
If we rent out mums flat, the profit she makes would have to pay my rent £100 per week inc. council tax.
why would mum want to use her profit to pay the council rent, when she could pay the mortgage instead, and own the council house !!! As mum would be living in the council house and have huge assets of her own, (either in property or savings) we do not qualify for housing benefit. why would we if one resident has all that savings !!!
Now your thinking yes but mum has paid all her daughter's mortgage with her savings! well how about if the council house , nearly all paid for by mum, goes into mums name and she owns it, as she paid for it. After one year of living there she can do this. now mum owns a 3 bed house instead of a 1 bed flat., that she brought with her money from the flat. inorder not to touch ANYONES savings my mums, my sons ect; i can take out a small mortgage for 30k over 25 yrs, paid back at 35 a week.i will pay the repayments, mum will own the house and both mum and the son kept their savings. this is the last post im gonna make as you do not get expert money saving advise on here! you dont even speak to a money saving expert. any one in a similar situation see HMRC web site, her magestys revenue and customs site, gives excellent advise on all kinds of taxes. and natwest mortgage calculator is good too.As for the post that said they would like to sort me out, my mum would sort you out, if she heard you. lol so would I. thanx everyone and look after your elderly parevts, dont stick them in a home, just coz they commted the offence of getting old!! ps i did take mum to view the care home, mums sister came too, they both hated it, and mum pleaded to live with me. byeee. if you need sound financial advice your on the wrong site !

You think you'll get a mortgage if unemployed?:rotfl::rotfl::rotfl::rotfl::rotfl:

Again,why the hell would your mother have to pay £100 rent a week if you didn't buy your house?She wouldn't be the only person living there would she and you'd get benefit.You really,truely are a greedy disgrace of a daughter

McKneff

~Somewhere you have said your mother would pay the mortgage on your house and own the house.
No she wouldnt, she would be paying rent to you, you would be paying the mortgage. Your mother would not own the house,
she is not the tennant so she wouldnt be eligible to buy it.

You really should be ashamed of yourself to be honest.

ViolaLass

shegirl wrote: »

Again,why the hell would your mother have to pay £100 rent a week if you didn't buy your house?She wouldn't be the only person living there would she and you'd get benefit.You really,truely are a greedy disgrace of a daughter

I think the OP's point is that with all that cash in the bank from the house sale, her mother will not be entitled to housing benefit, which may or may not affect whether the OP is entitled to it.

I imagine she's right that her mother wouldn't be entitled but she would also have several thousand pounds in the bank and if the OP would stop viewing it as 'her' money (once the pesky mother has died and stopped spending it), I think she would find the matter easier.