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Buy to let to retired father who is on housing benefit
Ewdenstar
Posts: 1 Newbie
Hello, my dad lives in a council flat alone and I want him to live somewhere peaceful which unfortunately currently is not the case. It seems unlikely the council can help achieve this. I recently paid off my mortgage and have saved for a reasonable deposit but need a mortgage of 80k to get the house I have seen for him. Has anyone done this and what are the pros, cons and top tips - thank you.
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Comments
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If you can afford it, you can do it.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Assuming you intend for your father to continue to be in receipt of HB (ie effectively subsidising your mortgage) then this is unlikely to be allowed. It would be a 'contrived tenancy'.0
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That is not correct in all cases. There are examples of legitimate HB claims that have been agreed for family members but you do need to read about contrived tenancy as trickydicky says. There is a Housing benefit person on one of the other forums. Seek specialist advice about it as well not just from a forum.TrickyDicky101 wrote: »Assuming you intend for your father to continue to be in receipt of HB (ie effectively subsidising your mortgage) then this is unlikely to be allowed. It would be a 'contrived tenancy'.0
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