Trying to buy a council house.

bravoc

I am trying to buy my coucil house I share with my Mother and Father. As all 3 are on the tennancy agreement we all have to be on the mortgage according to the council. The problem being is my Mother is 73 and Father 74 and no one will give us a mortgage in there names. I have been informaed by many banks they will give me the whole mortgage in my sole name but because of the age's of my parents they are not willing to add them. Can anyone help??

Senior_Paper_Monitor

The Council are incorrect - any tenant(s) can waive their right to purchase in favour of any other tenant(s).

This is quite clear on the RTB1 form.

There are however several issues about the parents doing so (in the circumstances you describe many councils will insist on the tenants who are giving away their right being seen to take formal independent legal advice to ensure they are clear as to the possible legal implications of them doing so and the impact it could have on their lives, as will lenders and so - as a responsible broker/adviser specialising in Right to Buy - would we in the circumstances you describe).

In fact there are - depending upon the absolute details of all three parties - some lenders who could possibly accept your parents on the mortgage which would make this unecessary.

DO NOT bother trawling the banks (as you appear to be doing) - you are unlikely to be successful and very likely to pick up a large number of credit searches, which will damage your credit rating and potentially prevent you obtaining the mortgage !

Contact a specialist right to buy mortgage broker/adviser - the case sounds doable, but needs handling with care.

Dave_Ham

Agree with above, this is bread and butter for an experienced broker although you will murder your credit file getting out there and going direct...

Get some decent advice and this is achievable...