property query

ACID

well i believe ti to be the right section but feel free to move if not

i hope i can get soem replies as i woul really lik to pass this info on to a mate who asked me for this info
i havent told him that i would be putting this info on a forum but im not going to mention names

heres the situation

my mate has been livign at home with his parents for about 20 years
he is in his final year of uni, and his sister is lookign for full time work in HR but she will be married off soon

his dad is regd disabled so gets abotu £500 a month

hi mum works full tiem and gets maybe £1000 month
now they live in hosuign assocaition and still do for a long time

they need to move on as it will be difficult for the elders to start makign payment so soon

its a three bed house with rent about £400 a month exc. bills

whats the next move forward

as i was surprised they havent doen anythign sooner
but with cash tied up they do need to do something
the current property is dated and although right to buy might be possible

the discoutn might even be high which equals a deposit for the house, however the house needs refubishemnt in the case of about 5-10k (kitchen, bathroom, extension, maybe loft)

i assuem they wil need to move uinto a bigger property

but how and where do they start

any help members

chugalug

Hi, I'm not really sure what you're asking. If your mate and his sister are to be moving out of the property soon why is a larger house needed? Also if this is a HA property it won't have the right to buy but more likely the right to acquire. Does it have adaptations for your mates dad as this will also limit their options. Perhaps if you clarify what the problem is someone will be able to help.

ACID

chugalug wrote:

Hi, I'm not really sure what you're asking. If your mate and his sister are to be moving out of the property soon why is a larger house needed? Also if this is a HA property it won't have the right to buy but more likely the right to acquire. Does it have adaptations for your mates dad as this will also limit their options. Perhaps if you clarify what the problem is someone will be able to help.

what adaptions as in access routes
well no he is on incapacity but not diabled physically but injured

i know hsi sister will move out once married which is in a few years

they basically want to get into the property market with their own house
rather then a HA home with rent

ACID

Anyone ELSE?

chugalug

Hi again. When I said adaptations I was thinking along the lines of shower instead of bath, hand rails, wheelchair access etc which doesnt appear to apply in this case. Your mate parents (if they are the tenants) can ask the HA about any schemes that may be available to them to free up their current property for future tenants. There used to be a scheme called Homebuy where the HA put up a 25% stake in a property on the open market and the tenant put up the other 75% through a mortgage or other funds. Dont know if this is still available as seems to be a big push towards shared ownership currently. There are stringent checks made as the HA will expect their 'share' paid back and will also have to make sure that the mortgage payments can be met. They dont want someone losing their house and having to reapply for social housing. There are also limits on the size and type of property that can be bought. I would suggest that they are advised to seek full advice on all the implications of moving into the open market ie financially and how this would affect them in the long term. Perhaps a visit to the CAB or a Housing Aid Centre such as Shelter?

ACID

willl have to mention the CAB to him then
fair do's

thought i wouldve known what to do, lol