Hi, Buying council property, please help

kingstreet

RTB can be exercised by the tenant and a member of the tenant's family who has lived in the property, as their main residence, for at east twelve months. It's been like that as long as I can remember.

Who is/are the named tenant(s)? Would it be possible for your husband and son to buy the property without you? If they did, this would allow a maximum mortgage term of 14 years, otherwise, you may be stuck with only 10 years, as the mortgage will have to repaid by age seventy for most lenders.

How would you pay the mortgage when both you and your husband have retired? What age will you retire?

There may be the odd one which will go past seventy, but I don't know if they do right to buy business.

shanikang

Thank you Kingstreet,
Good idea, taking just my Son's and Husband age into consideration, never thought of that.
I was actually thinking that they would allow us 20 year's because of our Son's age (19) but obviously not.
My husband would only be retiring at 70, but we was thinking of moving in approx. 7/8 years and leaving our Son with the house/mortgage.
Do you think this is viable, and also if you don't mind me asking, who do you think that we should approach for a mortgage.
Thanks in advance

kingstreet

A decision to move makes no difference to the mortgage situation now, although it's worth bearing in mind, if you decide to seek social housing again, you may have difficulty if one of you owns a property already.

I suggest you speak to a good independent or whole market mortgage broker in your area to piece this together for you. Ask friends and relatives for a recommendation. Failing that, try https://www.unbiased.co.uk, switching off the "sponsored ads only" option, so you get a full list for your area.