Right to Buy for all Housing Association tenants - Advice needed

Marie2015

leveller2911 wrote: »

So why have you started a thread about the Tories manifesto proposal to give all HA tenants the RTB if you already have the RTB discount?........

If on the other hand you asked the Council "If the Tories give all HA tenants the RTB can I take my discount with me?" then I don't believe any council would say you could take the discount with you when they don't even know the qualifying criteria unless they have based it on the current RTB scheme which may be different from the one the Tories are considering.

I would get someting in writing from your council, they have a reputation for backtracking .

I don't have the right to buy this home at the moment as it is housing association. However, if I did a mutual exchange with a council tenant I would then have the right to buy that home and the 20 years I have spent as a social tenant would count towards my discount. I did have an exchange lined up, but as soon as I heard about this new RTB scheme I put it on hold.

I don't have the advice from the council in writing as such, but it was all done via e-mail, which I have copies of.

Yes, the new RTB for HA tenants may have a cap on discounts and I am basing all figures on the current scheme. Even if my discount was lower, I would still go ahead.

amnblog

Well, at least one voter does not think they were just lying in order to get their noses back in the trough.

silverwhistle

As Dreavi has pointed out, the HAs will probably fight this. The government don't actually own these houses, so will they be expropriating them from the HAs, some of which are also charities with all the concordant responsibilities? Who is actually going to pay for the discount? In addition some HA properties are rented from private owners and would not be available: I rented my house to an HA whilst I was abroad, for example.

Leveller's point is also a good one, although previous buyers getting social housing again will be less likely in future as there will be fewer social houses available, and if confiscation of HA assets occurs they won't be able to fund new housing and could well collapse. The financial vultures will be hovering over these potential future BTLs.

I agree Marie that it would give you something to aim for if it happened. Depending on where you live has getting your own place without a discount ever been on the cards?

magic_crayon

Just a thought... I purchased a 40% share of a new build shared ownership property from a housing association around 8 years ago. I pay mortgage repayments on my share and rent on the other 60%. I appreciate that many do not like this scheme but it was the only way I could afford to buy at the time. Now if this right to buy scheme goes ahead for housing association properties is the discount likely to extend to people with shared ownership properties? It seems that I could do quite well out of it if it did. However, if it didn't, I would have been far better off owning 0% of my property as it would have cost me less in repayments and repairs (not included for shared ownership tenants) over the past 8 years and I would instantly have had more equity than I do now :wall:

Pixie5740

Then again you could have been a private tenant paying full market rent whilst saving a deposit to buy a property at the full market rate. The other grass is always greener. Focus on what you have rather than what you don't.

Marie2015

magic_crayon wrote: »

Just a thought... I purchased a 40% share of a new build shared ownership property from a housing association around 8 years ago. I pay mortgage repayments on my share and rent on the other 60%. I appreciate that many do not like this scheme but it was the only way I could afford to buy at the time. Now if this right to buy scheme goes ahead for housing association properties is the discount likely to extend to people with shared ownership properties? It seems that I could do quite well out of it if it did. However, if it didn't, I would have been far better off owning 0% of my property as it would have cost me less in repayments and repairs (not included for shared ownership tenants) over the past 8 years and I would instantly have had more equity than I do now :wall:

Maybe message your MP about it? They may know more. Your situation does sound very frustrating. A friend of mine has just given up her HA house to buy as she got a small inheritance to cover the deposit and she is kicking herself now.

Marie2015

silverwhistle wrote: »

I agree Marie that it would give you something to aim for if it happened. Depending on where you live has getting your own place without a discount ever been on the cards?

Just the deposit that is stopping us really. In 5 years time we could have a our debt clear and enough for a small deposit so again something to aim for in case the HA discount does not come through. If it doesn't though I am never voting Tory again as I know several people who voted Tory on this promise as well as the 30 hours free childcare.

chanz4

Politicians always lie, how much ever comes off

mark55man

I hope you enjoy your free money however it comes about. I personally worked very hard to earn the tax that you will be benefitting from, and its good to see it spent on such an important national priority as giving someone who already has a home a home (the same home in fact)

You say you don't want to get political but this is the essence of political. Taking a public asset (and selfishly) turning it into a private asset at the opportunity cost for other deprived people is to me the definition of the Tory party. Especially when you have benefitted from the social protection at the heart of the Housing Association movement.

I mean its not even the governments house. I would be supportive if it was done at market rates (aren't the Tories about letting the market decide). I cant believe such a complex web of rules and entitlements has sprung up about giving away taxpayers money

So I wouldn't hold your breath about this happening. If you can make it worth your while and make some (of the taxpayers) money out of it then you are successful in Today's Britain. But it stinks, but you don't care.

McKneff

I wouldn't be counting chickens to be honest, it is futile.


Property could be costing twice as much as it is now. Interest could be at 16% so working out
any sort of costs for 2/5 years time is a complete waste of time.


When we bought our council house in 1980 it was before the RTB was in existence. We bought it for £5K. No discount applied.
When not long after the RTB came in the houses then were priced at £15K and discounts of up to 50% so took it to £7.5K it was all a bit of a con really.