Right to buy advice and would we get a mortgage?

Pixie5740

Marker wrote: »

If you are a 'lodger' then you don't have the right to buy. If you are a tenant, as in you have signed the forms officially making you a joint tenant with your mum, then you do have the right to buy.

You don't have to be named on the tenancy to qualify for RTB. A tenant can make a joint application for RTB with a family member who has lived with them in the property for at least 12 months.

Succession of secure tenancies isn't as simple as just getting your name added to the existing tenancy agreement.

"Council tenancies can only be passed on once by succession (after the tenant's death) or assignment. For example, after one joint tenant dies and their rights are transferred to the surviving joint tenant by succession, it isn't possible for the tenancy to be assigned to anyone else.

If there has been no previous succession or assignment, secure council tenants can only assign their tenancy to certain people. The only people you can assign your secure council tenancy to are:

* Your spouse or registered civil partner, as long as they are living with you.
* Another member of your family (this includes cohabiting partners, children, parents, siblings and most other close relatives), as long the person you want to assign the tenancy to has been living with you for at least one year.

See Shelter's website for further information.

martinsurrey

beep_beep wrote: »

Both my mum and I have a right to buy, We are entitled to the full 70% discount. I dunno just feels like we are paying £90 per month which if we raise to £120 per month we would be buying the house outright.

but when the boiler breaks and it costs £2k to fix, where will you get the cash from? as it'll be your responcibility...

follow the advice of "Marker" and try and get yourself on the tenancy.

r2d2s_brothers

You need to consider the effect of interest rate changes in the future.
Your £90 rent is not likely to increase by more than the rate of inflation, but interest rates are likely to rise faster in the short term.
An increase of 2% would mean you'd be paying £132 per month
An increase of 4% and you'd be paying £161 per month.

Would you be able to afford this increase on top of your other bills, and still saving enough money for emergencies?

I think you'd be better talking to the council / your support team about getting yourself onto the sucure tenancy if possible.

Soot2006

r2d2s_brothers wrote: »

Would you be able to afford this increase on top of your other bills, and still saving enough money for emergencies?

.

That's what the mortgage application would be checking anyway. From the sounds of it, this application would be unlikely to succeed for a variety of reasons, not least affordability!

McKneff

I think you are both living in cloud cuckoo land to be honest.


There are so many more expensies, on top of the mortgage, gas, electric, insurance, phone, food, repairs.


Your PIP is not ever guaranteed, you could lose it at your next assessment.


This is likely to cause more stress rather than less.


Choose a peaceful secure life and live in the house with all the security it affords you both.

SnooksNJ

fairy_lights wrote: »

I think it was pretty irresponsible of your crisis team to suggest you think about buying a house you wouldn't be able to afford to maintain.

Did the OP ask what credentials the crisis team have in financial and investment planning.

foolofbeans

I lived in a council house with my parents and when I read up about it I could put mother as a joint tenant but if I ever left the property she would have no right to stay in the property and it would be at the Councils discretion whether they allowed it or allowed her to have another (smaller) property.
So it was similar info to what the OP has been told. You can be a joint tenant but have no rights.

[Deleted User]

I think you might need to look at supported living choices so you can see what they are like, to prepare for what may happen later on.

It could be with a secure home environment and some more coping skills type help, you would be able to cope with things you can't right now.

Personally I agree that having to pay a mortgage (not sure why you have been told that this is such a good option, it isn't quite as easy as you have been told) is the main option being looked at. As said, buying a council house, and paying for it through the years also carries a lot of insecurities.

FBaby

It would be a struggle but I could just manage it.

As stated above, owning a property is not just about paying the monthly mortgage payment. The cost of repairs and maintenance can be just as much each month. The stress that would come with wondering where to get the money to fix a leaking roof compared to just having to make a phone call can't be compared. If you have MH issues, I would certainly take the less stressful choice and not become a home owner.

chanz4

some councils also have rented boiler systems, have you asked them if a sale would include the boiler as a relation of myns didnt