Help with right to buy mortgage

xylophone

Direct your crying to the government.

I'm not crying.

SnooksNJ

Icikle wrote: »

Direct your crying to the government.

That's a great idea. I will write my MP asking about the sense of entitlement to right to buy for adult children who never moved out of their parents house and how they think it's unfair they are only "entitled" to a 45% discount instead of 60%. I will include this thread to give you full credit.

xylophone

You are claiming your mother's "legal right" - fine.

The HA also have a "legal right" - it appears that it is being exercised.

The council/housing association are saying I have to pay £39,950 because of the cost floor - this means they cant be compelled to the sell the property for less than what they spent acquiring it and maintaining/modernizing it.

I have tried to obtain a breakdown of the cost floor figure as I dont believe they have spent what they say they have in the last 15 years. They wont give this to me and apparently I have no legal right to it.

You are no doubt using a solicitor in the purchase - he is best placed to advise about the "legal rights" of both parties.

And had your mother chosen to purchase years ago, presumably her "legal right" would have been limited by the same "legal right" as is being exercised by the council now?

Unless you are saying that the council's 'legal right" is of very recent date?

In which case, she has simply missed the boat for the even more generous discount than exists now?

Icikle

The arguments are senseless and again misrepresenting me. I'm not after more, as people keep putting it. I'm after substantiation of the price they've paid in maintenance. These are not a private landlord, they are a housing association who acquired these homes from a council at a much larger reduced rate than I will. You could argue they're ten times the parasite you think I am. But, as a housing association they have to administer the preserved right to buy legally. If they're telling me they've spent 33,000 on the house and this affects the price I pay, al I ask is they show me how they've arrived at that figure. I say this, but you read it and assume I want more than I'm entitled to.

So you don't want children to profit from their parents' entitlement. Let's say my mother did this years ago. Her mortgage would be finished and I'd more than likely be the beneficiary of a property when they passed. Right now, all I am doing is correcting a mistake she made in not buying this years ago. She may leave it to me, she may not. If she does, I've paid for the property I inherit, which wouldn't be the case had she bought it herself years ago. Jealousy as someone else put it. Having said that, having grown up in a council estate, and live on one all my life, I can safely say its not this cushy opportunity of waiting to cash in you all seem to think it is.

Icikle

SnooksNJ wrote: »

That's a great idea. I will write my MP asking about the sense of entitlement to right to buy for adult children who never moved out of their parents house and how they think it's unfair they are only "entitled" to a 45% discount instead of 60%. I will include this thread to give you full credit.

I really wanted to avoid ad hominem attacks but Christ are you cretinous. I'm entitled to nothing. My mother on the other hand is entitled to what she's entitled to. I'm financing her so I have to be named. But alone, I'm entitled to !!!! all. She gets the equity, I don't.

glentoran99

Icikle wrote: »

I really wanted to avoid ad hominem attacks but Christ are you cretinous. I'm entitled to nothing. My mother on the other hand is entitled to what she's entitled to. I'm financing her so I have to be named. But alone, I'm entitled to !!!! all. She gets the equity, I don't.

I don't believe that's possible, If it is could you let me know which bank will lend you the money to buy a house that you wont have any share in or be named on the deeds as owning

System

Are foreign tenants entitled to buy their property after 3 years using the RTB scheme?

Icikle

glentoran99 wrote: »

I don't believe that's possible, If it is could you let me know which bank will lend you the money to buy a house that you wont have any share in or be named on the deeds as owning

You can be on the deed and have 0% equity. Also my mother is also on the mortgage, we just had to find a lender that wouldn't take her finances into account. I can't do this without her. She has a say in everything.

FitzWilliams

So do you think £10,000 is an unreasonable figure for the maintenance and modernisation of a property over a 15 year period? It seems pretty cheap to me.

Detroit

I don't believe there is any entitlement for you to see a breakdown of costs.

The legislation allows the local authority to use estimated figures if they are unable to accurately calculate relevant expenditure, so this would suggest they are not required to provide evidenced figures.