Right to buy enquiry

wpearson92

Hi im new to these forums,
im just enquiring about the right to buy scheme on council houses.
Me and my parents have been talking and we are going to apply for the right to buy our house.
The only stumbling block will be the future. If we both join in with the purchase will my parents be able to apply for another council house while we are purchasing the house, I will be the one getting the mortgage and paying for the house, so basically they will be transferring the rights to me solely at the end of the purchase.
The reason for us purchasing the house would be to take advantage of the massive discount available. They want to move into another smaller house because they both have disabilities would they be able to have housing benefits and be accepted by the council for another property while I pay off the mortgage.
It may seem like a complicated post any confusion please feel free to ask for clarification

~Beanie~

No, they can't buy their council house and then apply for and get housing benefit for another one! Are you named on the tenancy? If not, you won't be able to get the mortgage anyway.

Pixie5740

Do you all currently live in the house?

lighting_up_the_chalice

wpearson92 wrote: »

Hi im new to these forums,
im just enquiring about the right to buy scheme on council houses.
Me and my parents have been talking and we are going to apply for the right to buy our house.
The only stumbling block will be the future. If we both join in with the purchase will my parents be able to apply for another council house while we are purchasing the house, I will be the one getting the mortgage and paying for the house, so basically they will be transferring the rights to me solely at the end of the purchase.
The reason for us purchasing the house would be to take advantage of the massive discount available. They want to move into another smaller house because they both have disabilities would they be able to have housing benefits and be accepted by the council for another property while I pay off the mortgage.
It may seem like a complicated post any confusion please feel free to ask for clarification

Makes you proud to be British!

If the property is sold OR OWNERSHIP TRANSFERRED within 5 years of the sale going through, a proportion of the discount is repayable.

HB cannot be claimed on a property you have owned within the last 5 years.

Deprivation of capitol rules may mean that they cannot claim HB for considerably longer than that.

The same deprivation rules may also effect the property if they need specialist care.

As they will be adequately housed, they may face quite a wait to get another Social Housing property, depending on the area. And if the "massive discount" means as much as you imply, I'm guessing that area is high demand/low turnover. So, they may never move out, may never pay you a penny, and may still lose you the house if they go into a care home.

There's no win without risk.

lighting_up_the_chalice

~Beanie~ wrote: »

No, they can't buy their council house and then apply for and get housing benefit for another one! Are you named on the tenancy? If not, you won't be able to get the mortgage anyway.

He probably will if he has lived there for 12 months.... Probably.

Running_Horse

It's called having your cake and eating it.

lighting_up_the_chalice

Running_Horse wrote: »

It's called having your cake and eating it.

Or betting your own parents on a house.

harrys_dad

Or deliberately winding people up? I know I need to be nice to a new poster but OP "are you serious"??????

KMMT

I have to agree with Harry's Dad. You can not be serious. Council houses are not there for people to make money & continue to claim money off of the government. I'm not against people buying then (my parents brought ours), but to then expect the council to house & continue paying HB for his parents is greedy beyond belief.

lighting_up_the_chalice

KMMT wrote: »

I have to agree with Harry's Dad. You can not be serious. Council houses are not there for people to make money & continue to claim money off of the government. I'm not against people buying then (my parents brought ours), but to then expect the council to house & continue paying HB for his parents is greedy beyond belief.

Probably best you don't Google "Mortgage Rescue Scheme" then.

wpearson92

Im not meaning to be greedy, it was my parents suggestion not mine. But thanks for the feedback, I have lived there for more than 12 months so i am classed as a tennant.
Ive been saving for a deposit while living at home. I just wanted to check what the scenario would be if I did have a joint application