Right to buy (council house purchase)

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sam4sam wrote: »

The discount is repayable if you sell the house before 5 years, obviously we would not sell within 5 years, but also I have resesrched through the RTB site and the details have not been updated to reflect the 150k max discount but she is entited to the maximum 100k disciubt as she has been in council housing for about 15 years or so I believe, also it is semi detached and in the suburbs of London.

The ideal plan would be for me to purchase the house, do it up (it is in a bad way - I would expect the council to reflect the price of the property for this - so a discount of more than 100 or 150k would be appropriate as it is not comparative to another 3 bed, 1 bathroom house in the area etc).

We would sell it in 5+ years realising the profit of the doscount and of doing it up and I then would provide something for my mother to live in more suitable.

But it is a big step and I am only looking into the idea, there are obvious ethical dilemmas.

Yes your mother would have to keep the property for 5 years before repaying the discount to be free of paying0 back any of the money to the council, but my understanding is that the maximum discount is 75% is the maximum discount for flats and 50% for freehold of the purchase price, but it depends on what the council's surveyor prices your mother home at. I understand that no more than 75k will be given as discount for RTB flats after they have reside there of a certain amount of years, but it depends on your mothers council policy as their policy maybe less than that.

securityman

London max RTB discount is £100000

https://www.gov.uk/government/news/mark-prisk-offers-100k-right-to-buy-discount-to-the-capital-s-social-tenants