were we missold our rtb in 2012?

n00bsmerf

Bit of a strange question here to which most helplines admit hey would be furious if it was then but cant really offer any advice as they haven't come across it before.

Put simply at end of jan our rtb went through with the then maximum capped discount of 24k knocked off

End of march beginning of april this discount cap was removed and raised to 60% of the value or £75000

This raise was apparently announced in oct 2011 but we only just found out because another neighbour has put in rtb and got massive discount!

So less than 70 days after we bought discounts were raised but no one informed us or we would clearly have with drawn and reapplied again

Do we have any claim against the council for miselling?

ACG

I wouldn't have thought so. You bought a house under the rules that were in place at the time.

Just like if you went into tesco and bought a loaf, theyre not going to tell it will be discounted tomorrow. The same goes for if you were buying a car.

Ok the monetary value is a fair bit off but the principle is the same.

ILW

n00bsmerf wrote: »

Bit of a strange question here to which most helplines admit hey would be furious if it was then but cant really offer any advice as they haven't come across it before.

Put simply at end of jan our rtb went through with the then maximum capped discount of 24k knocked off

End of march beginning of april this discount cap was removed and raised to 60% of the value or £75000

This raise was apparently announced in oct 2011 but we only just found out because another neighbour has put in rtb and got massive discount!

So less than 70 days after we bought discounts were raised but no one informed us or we would clearly have with drawn and reapplied again

Do we have any claim against the council for miselling?

You just biught at the "wrong" time.

By hey ho you did much better than most people who do not get taxpayer funded discounts at all.

DaftyDuck

This raise was apparently announced in oct 2011 but we only just found out because another neighbour has put in rtb and got massive discount!

If this was PUBLICLY announced, then I suppose the onus was on you to be aware of changes upcoming and act accordingly.

If it was a quietly planned change that was not announced, then as AGC says, you bought under the rules then in place. You may have not gained as much as some, but if the change had been in the other direction, I doubt you'd be offering the council some more cash.

You still bought the house with substantial discount so, although I can see you might feel unlucky, I don't think there's any grounds for complaint.

n00bsmerf

the point is we weren't informed beforehand to make a decision on whether to continue or not even though this was announced months before our rtb went through. still a bit sickening with the amount of money involved and what the house is going to need spending on to make it right also

outdoorcjc

n00bsmerf wrote: »

the point is we weren't informed beforehand to make a decision on whether to continue or not even though this was announced months before our rtb went through. still a bit sickening with the amount of money involved and what the house is going to need spending on to make it right also

If it was announced then surely this counts as being informed, you may not have been personally informed but a public announcement was made.

I made my offer on a property just before the budget this year so made sure I read through the speech fully to ensure there weren't any changes to stamp duty etc that would make completing before or after a certain date more attractive. I wouldn't have expected the estate agent, solicitor or anyone else to point this out to me.

You got the benefit that was applicable at the time you bought, I don't think you would have a case for misselling just because you weren't told to wait a few months for an even bigger discount, sorry.

ILW

n00bsmerf wrote: »

the point is we weren't informed beforehand to make a decision on whether to continue or not even though this was announced months before our rtb went through. still a bit sickening with the amount of money involved and what the house is going to need spending on to make it right also

Were you told that there would not be an increased discount by the seller?

ACG

If you were not happy about the work that needed doing etc why buy the house?

The local housing people are trying to get the best price possible so that money can be re-invested. You should have done your research its not for other people to put it on a plate for you.

Be happy you got a discount. Stop being greedy now there is more available.

EDIT: Just realised... you presumably put an application in to buy the property? Therefore the property wasnt "sold" you applied to buy it.

n00bsmerf

we weren't actually aware of how bad the damage was , flat roof top decimated main roof relt rotted and leaking everywhere,plaster blown in every room in fact the more we have stripped off the coverings on everything the more we find

Only started finding stuff as we never improved anything before hand , thanks for replies all anyway just seems we bought at an unlucky time

application was put in 2011 and took ages to go through was finalised end jan 2012, just chalk it up to experience I guess

ACG

What type of valuation did you get?
Im presuming it was a basic val?
You would have had the option of a home buyers report or a building survey... Im presuming, because you lived in the property you would have gone with a basic val? Again, this isnt the housing associations fault or the solicitors or the lenders.

blckbrd

Buying a house on the open market is nothing loike a tenant excercising their right to buy. You'd be hard pressed to argue mis-selling because, unless there's something dodgy going on, the landlord doesn't actively market the property.

As others have said, the discount change was widely publicised. It's just your bad luck that you missed it completely.

And, really, it's not the council's job to advise everyone of their rights in every situation. For one thing, staffing would probably need to double and for another, people have some responsibility to find thing out themselves.