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Buying grandfathers council house - should I ask him?

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  • Guest101
    Guest101 Posts: 15,764 Forumite
    berbastrike wrote: »
    Is it illegal? I don't think so

    Would it make my grandfather money? Yes as he would be rent free

    Would it make me money? Yes


    I think its a good idea but can see why it could cause an argument

    Is it possible? Not the way you think so...

    Is it immoral, absolutely!
  • fed_up_and_stressed
    fed_up_and_stressed Posts: 1,673 Forumite
    Karma would be the OP lending grandad money to buy the property to get the discount and then grandad leaving the house to the local dogs home. So waving bye bye to OP's cash.
    Spelling courtesy of the whims of auto correct...


    Pet Peeves.... queues, vain people and hypocrites ..not necessarily in that order.
  • System
    System Posts: 178,346 Community Admin
    10,000 Posts Photogenic Name Dropper
    You just can't win, it would benefit everyone except the council
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Guest101
    Guest101 Posts: 15,764 Forumite
    berbastrike wrote: »
    You just can't win, it would benefit everyone except the council

    It would benefit your grandfather.

    You would receive almost no benefit short term, and limited long term.

    YOU WOULDNT OWN THE HOUSE! your grandad would.
  • Annie1960
    Annie1960 Posts: 3,009 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    berbastrike wrote: »
    You just can't win, it would benefit everyone except the council

    It would add to the taxpayers' burden.
  • Luckyinlife
    Luckyinlife Posts: 1,613 Forumite
    I have thought about this myself dont do it they will worry and if anything goes wrong now the council sort it out for him

    Id much rather pay more and leave them have a peaceful life without the hassle and worry about stuff
    Mortgage--- [STRIKE]£67700 March 15[/STRIKE] [STRIKE]£65221 April 15[/STRIKE] [STRIKE]£64983 July 15[/STRIKE] [STRIKE]£64780 sept 15[/STRIKE] Remortgage [STRIKE]£67295 oct 15[/STRIKE] [STRIKE]£66599 Nov 15[/STRIKE] [STRIKE]£65878.73 Dec 15[/STRIKE][STRIKE] £64834 1st Jan 16[/STRIKE] [STRIKE]Feb 16 £64,511.89[/STRIKE][STRIKE] March 16 £64,056.40[/STRIKE] [STRIKE]April 16 £62550[/STRIKE] [STRIKE]May 16 £62,396.20[/STRIKE] Feb 17 £60.800
    Emergency fund 23k
  • fed_up_and_stressed
    fed_up_and_stressed Posts: 1,673 Forumite
    berbastrike wrote: »
    You just can't win, it would benefit everyone except the council

    No it wouldn't !!! Currently your grandfather gets repairs done as part of his rent has and has a secure tenancy.

    You propose to take that away making him responsible for his own repairs.

    Btw your grandads council is a not for profit organisation ran for the benefit of the public. Whereas you want to profit at the expense of other members of the public with a housing need by removing a property from the social housing network.

    For what so some cash can sit in the bank with the rest of your savings?

    I find it very sad that you wish to take advantage of your grandad in such a way.
    Spelling courtesy of the whims of auto correct...


    Pet Peeves.... queues, vain people and hypocrites ..not necessarily in that order.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You lend/give grandad £XK

    Granded buys house

    Grandad becomes disbled/sick/demented

    gandad goes into a care home

    local authority forces sale of the property to pay for care home

    Investment vanishes
    Granded remains as council tenant

    You leave your £XK in the stock market

    Grandad becomes disbled/sick/demented

    gandad goes into a care home

    local authority pays for care home

    Stock market Investment is protected
  • Gigervamp
    Gigervamp Posts: 6,583 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I see Walter Mitty is back.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    The OP is a sad little troll who apparently earns £80k a year and lives at home (under a bridge) paying its parents £30 a month in rent. The troll also says women are gold diggers.

    https://forums.moneysavingexpert.com/discussion/5023274

    Then the troll has enough money to retire at 26.

    https://forums.moneysavingexpert.com/discussion/5079330

    Next up is the plan to buy the parents' bridge for £200k and let it back to them.

    https://forums.moneysavingexpert.com/discussion/5099766

    I also like the plan to take out student loans as a means of making money.

    https://forums.moneysavingexpert.com/discussion/5172654

    I could go on but I think you all get the picture now.

    rmjvhe.jpg
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