rtb

tab99_uk

hi

just sent all forms for right to buy had surveyor come to look at house from the councill he had listed a few things that need repairing.

been living at house for 5 years how much discout can i expect from the councill leeds are 3 bedroom semi detached house.

and it said on the letter i could get my own surveyor to do an inspection is it worth getting a diffrent surveyor to inspect proerty???

and how much do they charge for this service sorry new to this house buying so dont know alot ???

silvercar

The surveyor will value the property in its current state. I doubt its worth getting your own inspection. The mortgage lender will ask for a valuation as well.

Why not ring the council and ask them the likely discount. I always thought it was based on how long you had been a tenant but there is a maximum amount.

asandwhen

Oakey22 wrote: »

This is what irritates me, people who live in a council house for 5 years and want to buy it off the council. If you can afford a mortage give the house up and move out, let others who are not so fortunate rent one off the council.

I think they should abolish the RTB scheme.

How do you know that the op can afford a mortgage without the help of the discount from the council? what is wrong with getting help to be able to better yourself? If it wasnt for the help I got from the council to buy my home I would still be renting with out the opportunity to own a house of my own.

** I think they should keep the RTB scheme ** GOD BLESS MAGGIE

Gorgeous_George

Oakey22 wrote: »

This is what irritates me, people who live in a council house for 5 years and want to buy it off the council. If you can afford a mortage give the house up and move out, let others who are not so fortunate rent one off the council.

I think they should abolish the RTB scheme.

While I may agree with your sentiments, the OP has asked for advice and not moral judgement.

For Leeds, the answer from this site (clicky) and this site (clicky) say that after 5 years, you are eligible for a 35% discount against market valuation. The maximum discount of £24,000 discount.

Therefore, if the house is worth more than £68,571.43 (:))you should receive the maximum discount (£24K). If the house is valued at less than this figure, you should get the 35% discount.

The first valuation provides the council with a view of the market value. I would recommend having your own valuation done (shouldn't cost much) and/or check nethouseprices (clicky) for sale prices of similar houses. You need to be comfortable with the valuation as this will set how much you will end up paying. The valuation by the mortgage company (if you need a mortgage) simply ensures that the house is worth enough to cover the loan and is not necessarily a market valuation.



GG

sarkin1

WE need prople like this in the economy,they buy the house get a discount then remortgae the equity out and buy a masssive tv and associated tat to show how well they are doing. With out these peolple there will be no economy and if they are really smart convert to BTL.

tab99_uk

Oakey22 wrote: »

This is what irritates me, people who live in a council house for 5 years and want to buy it off the council. If you can afford a mortage give the house up and move out, let others who are not so fortunate rent one off the council.

I think they should abolish the RTB scheme.

who the hell are u to tell me to move out do you have any ideas how much work i have put into the gardens an how much i have spent on them???

its not not my fault u cant aford a mortgage dont spend all your money idiot. at the time 5 years ago i could not afford a mortgage to now in a better postion to aford a mortage so if got nothing constructive to say in my posts shut the hell up and dont post.

and thanks to those that helped

tab99_uk

Gorgeous_George wrote: »

While I may agree with your sentiments, the OP has asked for advice and not moral judgement.

For Leeds, the answer from this site (clicky) and this site (clicky) say that after 5 years, you are eligible for a 35% discount against market valuation. The maximum discount of £24,000 discount.

Therefore, if the house is worth more than £68,571.43 (:))you should receive the maximum discount (£24K). If the house is valued at less than this figure, you should get the 35% discount.

The first valuation provides the council with a view of the market value. I would recommend having your own valuation done (shouldn't cost much) and/or check nethouseprices (clicky) for sale prices of similar houses. You need to be comfortable with the valuation as this will set how much you will end up paying. The valuation by the mortgage company (if you need a mortgage) simply ensures that the house is worth enough to cover the loan and is not necessarily a market valuation.



GG

thanks for reply m8 just had a look at nethouse prices 23/02/2007£115,000Ter.FNo

a house sold for this much about 40 doors away from me.

so i could expect mines to be about in the 90k needs a bit of work doing to it.

so yes i will need a mortgage so does that mean they will have to do another survey to.

Running_Horse

tab99_uk wrote: »

who the hell are u to tell me to move out do you have any ideas how much work i have put into the gardens an how much i have spent on them???

where are the mods so they can ban these idiots if got nothing good to post get a life and dont post idiot.

Not sure how some gardening equates to the right to buy with guaranteed discount. Try telling that to a private landlord. Look at this way, if your logic had been followed and every council house bought, what would you have done for housing five years ago? And if the mods banned every poster who disagreed with another, there wouldn't be many people left.

Gorgeous_George

tab99_uk wrote: »

thanks for reply m8 just had a look at nethouse prices 23/02/2007£115,000Ter.FNo

a house sold for this much about 40 doors away from me.

so i could expect mines to be about in the 90k needs a bit of work doing to it.

so yes i will need a mortgage so does that mean they will have to do another survey to.

Your mortgage company will need to do a valuation (survey) that you will pay for. You may want a Homebuyer's Survey instead which will be more in depth (and cost more) but, having lived there for 5 years, you may decide not to bother and save the expense.

The survey that you have already had was for the council. They need to know its value so that they can make you an offer. You need to be comfortable with this valuation. If, for example, it was miles out, say £180K, you would need to challenge it.

The Thanks button is down and to the right



GG

SUESMITH_2

we would be in a lot better state in britain if we hadn't had rtb, or if we had had it but the council had been allowed to spend the money on more social housing. oh from a village and his aunt has got her ex authority house on the market for £225,000. enjoy your discount

epz_2

the big problem with rtb is the councils never built any houses to replace the once sold, now i agree in theory with the rtb as it transforms traditional council house gettos into mixed estates and hence provides a benifit to social cohesion.

that said i dont agree with the op's attitude either, they dont automaticly have a right to £24k of tax payer money after enjoying discounted rent for 5 years and can well see why people would get upset when it takes 20 years to get a house if you arnt a junkie or single mum.