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Right To Buy - Joint Application Ownership Percentage
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Letsgotesco
Posts: 2 Newbie
Hi, I've been living with my mum (named on tenancy) in her council flat for the past 2 years acting as her carer. I'm now planning on buying the flat through a joint right to buy application with my mum, taking advantage of the full 75K discount shes gained living there for the past 15 years.
I have a couple of questions I was hoping someone with experience/knowledge of these matters could help me with.
Any advice would be much appreciated.
Cheers!
I have a couple of questions I was hoping someone with experience/knowledge of these matters could help me with.
1) what percentage of the ownership can we split between us? I'll be putting up all the money so was hoping to go 1% her 99% me.
2) in a 1/99% split will we still get the full 75K discount?
Any advice would be much appreciated.
Cheers!
0
Comments
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Are you named on the tenancy? If not, it can only be your Mum who buys it. If you change the proportion of ownership from 100% before the five-years of ownership condition, your Mum will have to pay back a proportion of the discount.0
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Yes I've been named on the tenancy and paying rent since moving in two years ago.0
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