need alot of advice about alot of stuff!!!

Guest101

headhurts.com wrote: »

Workshy or bringing up my kids?!? The fact that they never see there dad because he works so much is teaching them something. Also seeing there mum studying for when she goes back to work might count for something. Yes in a sense we are trying to go for the easiest option, but that's because the hard option seems too dam hard. I will take on board your points about becoming a landlord and will look into it

If you came here saying, in a few years my kids will be in full time education, ill be working, we'll have two incomes and will be getting a mortgage with RTB on a council property to live in.... Then u'd get a gold star

What you did was come here saying you want to manipulate the system to get one over on the taxpayer.

The hard option is supposed to be hard....

carefullycautious

What you are not taking into consideration is if you do get to the stage of buying with a RTB discount you will have to stay in the home for 5+ years or you will have to pay a proportion of the discount back.


You will not get a BTL mortgage initially.

pyueck

Guest101 wrote: »

If you came here saying, in a few years my kids will be in full time education, ill be working, we'll have two incomes and will be getting a mortgage with RTB on a council property to live in.... Then u'd get a gold star

What you did was come here saying you want to manipulate the system to get one over on the taxpayer.

The hard option is supposed to be hard....

Completely agree with this. For a taxpayer who works, pays their taxes and pays through the roof for property your idea is hard to stomach.

How much this is a problem with you or with the right to buy rules I can't decide.

However I can say that I hope the rules prevent your idea from working and that I have no intention of helping you on your way with advice.

Rambosmum

You can only rent out houses from the right to buy scheme after 3 year unless very specific circumstances, the council can force you to sell it back to them if you do it before then.

Being a landlord is not easy, there's tax, placing tenants deposit in the relevant schemes etc etc. Not to mention repairs etc.

It can be hard to get a right to buy mortgage, but even harder if your partner is self employed (same with any mortgage). And you'll need to show you have some savings, all his tax returns are up to date etc.

Where is the money coming from to build the extension for your mum? You would obviously need planning permission for the extension and additional permissions if you wanted it to be a separate dwelling, rather than a granny flat (the difference being 2 sets of utilities, council tax, postal addresses etc) I think if you have a connecting door it counts as one dwelling.

If you do get a swap to a council house I hope it's in an area you actually want to live, because you may end you having to be there for a long time.

[Deleted User]

Yes you are right. The something for nothing part of the population IS what's wrong with this country. You don't even need the social housing you have.., you could move into your mother's. You certainly don't need to profit from another one. People like me get annoyed because secure affordable housing is an impossible dream. And someone like you is taking up a house you don't need as you say you will be happy to move in with your mum.

If you buy a house on the open market and sell it at a profit.., well done. If you deliberately move house.., to a house you don't really need.., and deprive someone else of a needed home, so you can make a profit.., that's wrong.

Did you really expect anything different? Problem is you probably did. That's what's wrong.

headhurts.com

I have been entitled to my h/a home as much as anyone thank you.
I stated that I could live with my mum further down the line when an extension is built, this is once we have lived in the council property for a certain amount of years and have saved up for the mortgage.
It would only work for me, my partner and three kids to live with my mum (in a 3bed property) when she is retired, a few years down the line. It would not work now as she is a carer who works dodgy hours and could not handle sharing her home at present.


We have only just started to be in a better position so social housing has been perfect for us.


The right to buy scheme is being encouraged to people in social housing so the money goes back into the council to build more homes!?!


Once we have grafted to save the mortgage money, like we are supposed to do, surely once we own the home we can choose what we want to do with it.


rambosmum- The extension we are saving up for, aswell as mortgage money. The extension would have separate kitchen, bathroom etc so do you know if we will have 2 council tax bills etc? We were not planning on having a connecting door. We are having an architect round so he might be more clued up.


I personally think the right to buy scheme is perfect for people like US and helps us get on the property ladder. I don't agree that we are taking away social housing from people who need it because the money gets put back into building more homes, which are now cheaper to make. Win, Win.


It seems like my biggest hurdle is a buy to let mortgage. I was wondering if it is possible to first of all get a normal mortgage and then years later, when lots of saving has been done and we are ready to rent the place out, then can we change to a buy to let mortgage?

suelizab

your mum doesn't retire for another 8 years . As you say, years down the line . So why think about it now . You obviously have too much time to think and get headaches. Go and find a hobby, part time job .

lighting_up_the_chalice

Leaving aside the moral judgments for just a moment, the sad truth is that your plan is "do-able".

The first hurdle is going to be finding and securing an exchange with a council tenant. To those who ask why anyone would swap a council R2B with an HA R2A, the answer is that not everyone wants to exercise their R2B. It may also be wise to enquire with your current LL about your existing R2A. You may find the discounts and terms already offered differ little from that of the council, as you would only qualify for slightly more than the minimal discount of 35%.

You may, when transferring to a council property, be offered an initial "introductory tenancy", usually lasting 12 months. During this time, you may be barred from R2B. If that is the case, it may be a good time to get any repairs done that may have been missed by your LL or the previous tenant. As soon as you apply for R2B, their attitude to repairs on the property WILL change.

There is nothing stopping you from exercising your right to buy on Monday and advertising the property to let on Tuesday, as long as you have a BTL mortgage. That is very unlikely to be granted on a R2B during the initial 5 year period. Unlikely, but not impossible. However, it may be worth considering the option of raising the mortgage against mums house, then you have no mortgage on your rented property and you can do with it as you see fit.

Being a landlord can, of course, be a pain in the butt. It can also be money for old rope. Letting a former council property at least gives some assurance that routine maintenance and repair has been carried out. But you need to get some good, independent advice and, I would suggest, join a LL association.

And now, the moral judgments. What you are suggesting is, of course, morally abhorrent. But no more than private landlords who maximise rental income at the expence of the suffering of tenants or sellers getting the best price while they complain about others trying to get their snouts in the trough. I do hope your plan fails in the most spectacular way.

Guest101

headhurts.com wrote: »

I have been entitled to my h/a home as much as anyone thank you.
I stated that I could live with my mum further down the line when an extension is built, this is once we have lived in the council property for a certain amount of years and have saved up for the mortgage.
It would only work for me, my partner and three kids to live with my mum (in a 3bed property) when she is retired, a few years down the line. It would not work now as she is a carer who works dodgy hours and could not handle sharing her home at present.


We have only just started to be in a better position so social housing has been perfect for us.


The right to buy scheme is being encouraged to people in social housing so the money goes back into the council to build more homes!?!


Once we have grafted to save the mortgage money, like we are supposed to do, surely once we own the home we can choose what we want to do with it.


rambosmum- The extension we are saving up for, aswell as mortgage money. The extension would have separate kitchen, bathroom etc so do you know if we will have 2 council tax bills etc? We were not planning on having a connecting door. We are having an architect round so he might be more clued up.


I personally think the right to buy scheme is perfect for people like US and helps us get on the property ladder. I don't agree that we are taking away social housing from people who need it because the money gets put back into building more homes, which are now cheaper to make. Win, Win.


It seems like my biggest hurdle is a buy to let mortgage. I was wondering if it is possible to first of all get a normal mortgage and then years later, when lots of saving has been done and we are ready to rent the place out, then can we change to a buy to let mortgage?

How many new homes have been built by councils in this financial year? I can find out if you want, but I'll bet you £500 that it's a lot less than sold via RTB - which is a short term solution to council with serious deficits. - not that you'll have a clue what I'm talking about.

Thankfully no, because you'll be sold the home with terms and conditions. Don't like it? Feel free to enter the open market.

Social housing would be perfect for a lot of people. Shame that some take the absolute !!!! ( yes I mean you ).

It seems your biggest hurdle and one which is likely to last your lifetime is the lack of a moral compass and social awareness.

Cheeky_Monkey

lighting_up_the_chalice wrote: »

I do hope your plan fails in the most spectacular way.

:T:T:T:T

This particular troll is not clever enough to think of a plan that will actually work :rotfl: