Buying a council home but not the tenant - query!

theGrinch

and this is a golden reason why after benefiting from low rents, public stock should not be sold off automatically. it is a huge market distortion against those that try hard to get on without help other than what they work for.

carefullycautious

danthedoors wrote: »

My father in law (now retired) has rented his council home in London for the past 30 years. The council is soon to put up the rent to a level that will not be sustainable for them to remain there. They have been offered the chance to purchase the property for a very reasonable sum (half the market rate).

I am currently renting with a small family, unable to get on the property ladder due to not having sufficient deposit. My query is this: given I am not the named tenant, and neither is my wife any longer - having moved out of their family home 7 years ago - is it actually possible for me to apply for a mortgage and purchase the flat, and then to rent it back to my in-laws at a subsidised rate?

I don't have the money to purchase outright and my in-laws are not willing to get a mortgage themselves. Any help or insights welcomed!

The most worrying part of this is that it is a flat. You could be stung for thousands if there is any works proposed by the local authority. LA flats are not for the faint hearted.

Also if you become a landlord to them it could be seen to be a contrived tenancy. You really need to read up on your obligations and just what it would mean to your parents as they would not be able to get any housing benefit if needed.


Your inlaws would be better off seeing if they could move into more appropriate housing that they can comfortably afford.

tBagpuss_2

In addition to not being able to get HB following a transfer, they would not be able to claim HB if they were renting from a family member - they are likely to be better of staying as tenants and claiming HB or other support as needed.

lincroft1710

beyourself wrote: »

You have no chance. Just think, you are not a tenant in the house! So they won’t find your mane in the documents. That’s why you have no legal right to do it. If you want to get a mortgage, why don’t you consider finding another house? If your credit history is good, sure you’ll get the mortgage from the bank. If not, you can ask someone to be your co-signer. Look here at xxxxxxx for a flat, as I purchased mine with the help of this website. Maybe it’ll help to solve your problems.

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