Buying parent housing association home on a right to buy discount

thequant

RaiderHammer wrote: »

Why do I have to explain myself to you? Someone that judges when you actually know none of the circumstances.

You've told us enough to allow judgement to be made.


basically you want to buy a house at a discount of it's true price and then for the tax payer to pick up the mortgage payments.


To think this was even possible is extremely moronic in the very least.

charlieismydarling

Could you be more stupid?

You can't buy her house. End of.

Next...

Yorkie1

OP, you've been told repeatedly that what you propose isn't possible on the facts you initially gave.

There's absolutely no need to get on your high horse and complain about people judging you if you choose not to provide any detail about what may be behind the request.

People are purely going on the facts before them: your mum is in a secure position and you appear to want to jeopardise that for absolutely no good reason.

There is then no justification for insulting others when you don't get the answer you wanted.

RaiderHammer

Yorkie1 wrote: »

OP, you've been told repeatedly that what you propose isn't possible on the facts you initially gave.

There's absolutely no need to get on your high horse and complain about people judging you if you choose not to provide any detail about what may be behind the request.

People are purely going on the facts before them: your mum is in a secure position and you appear to want to jeopardise that for absolutely no good reason.

There is then no justification for insulting others when you don't get the answer you wanted.

So OK for them to insult me then?

poppysarah

RaiderHammer wrote: »

So OK for them to insult me then?

Mi taxpayer, su taxpayer,

RaiderHammer

poppysarah wrote: »

Mi taxpayer, su taxpayer,

What does that mean?

monty-doggy

Don't get snappy with people telling you how it is. These sort of questions always raise emotion because one way or another it affects us all.

Everyone likes a bargain, or a get rich quick plan, but if that comes at the expense of the tax payer it's morally wrong.

How would you feel if your mum needed social housing but all the housing stock in your area had been sold off to relatives making a profit and then renting them out at a higher price or selling them on?

I can't blame you for exploring the options, lots of us have probably thought what if about one thing or another over the years, but when you then sit and be realistic, you see it's not really possible, it's at this point you should admit defeat and move on!

Don't stress over it, be thankful your mum is in secure housing, and count your blessings!

BigAunty

RaiderHammer wrote: »

My mum pays no rent at the moment, housing benefit pays the rent direct to the housing association, also no council tax. Would I be able to set a rent for my mum if I purchased the house and the housing benefit still pay this rent?
.

As indicated previously, you cannot purchase the house in your sole name, she would be at least a joint owner and owners are not entitled to Housing Benefit. Someone without employment income would struggle to get a mortgage in the first place.

There is something called 'Support for Mortgage Interest' for home owners too poor to pay the mortgage but you'd have to see if she would qualify for it at the outset, since she would be presenting herself as too poor to pay the mortgage immediately after purchasing it! (and your income would be taken into account when calculating entitlement to SMI).

You also should look into the Government's plans to change or scrap SMI in the future - they are not impressed that some groups of owners, including pensioners receiving Pension Credit, receive this help indefinately and feel that it should be a temporary measure given to those who have the potential to return back into employment to pay it off. Around half of home owners receiving SMI are pensioners and the govt really don't want taxpayers to fund those who can't pay off their mortgage through employment. This is a real risk.

Another risk is that in future, you have a change in circumstance that requires you to apply for means tested benefits (redundancy, low pay with children, sickness, etc) and if you don't live in the same property as your mum, the capital in the property may mean you won't qualify for benefits. You won't be able to realise this capital unless you make your mum homeless and sell the property.

Here is a thread that illustrates some problems that joint owners experience when their children buy their parents social housing property and then their circumstances change and they can no longer afford their parent's mortgage. The son has his own place, a low income and has had children since buying the property and can no longer support two homes. In this case, the property may end up getting repossessed, causing homelessness to the parent and a poor credit record/debt to the son (and possibly, a breakdown in family relations). For some reason, the OP on this thread is fantasising that her mother in law will be parachuted into another social housing property - she can dream on.

https://forums.moneysavingexpert.com/discussion/4853742