Ways to inherit the right to buy

mm04926412

The main thing was if anything happened to my mum before I was able to support myself I'd want to stay in my family home and do everything I could to own it and not lose it and my mum wouldn't want me to end up god knows where either.

If I become financially successful in my own right my mum is still young enough for it to be worth buying the house in the sense she'd save money in the long term and could have a better retirement and though she probably could technically afford the mortgage her employment is too unstable to take the risk so I would want to help her out in some way since I thought that if I be a guarantor or give her some of the money it would help her.

I would not, if I was already well off, use my mums secure tenancy as a way to get a quick buck or rent it out to strangers for side income. We're very close and I wouldn't do something like that to her.

leespot

mm04926412 wrote: »

The main thing was if anything happened to my mum before I was able to support myself I'd want to stay in my family home and do everything I could to own it.

If I become financially successful in my own right my mum is still young enough for it to be worth buying the house and though she probably could technically afford the mortgage her employment is too unstable to take the risk so I would want to help her out in some way.

I would not, if I was already well off, use my mums secure tenancy as a way to get a quick buck. We're very close I wouldn't do something like that to her.

What you're proposing is generally not a great idea - you are really not in a position to go ahead with this. Concentrate on making your own way in life and let your mum live as she has been doing. You don't need inheritance to enjoy life.

Pixie5740

You're at university, in the very near future you should be able to support yourself in fact many students manage to support themselves throughout university. I don't know why either you or your mother would think you would end up "god knows where." You're an adult, not a child, it's not as though you'll end up in care.

Pixie5740

I'm not sure there are any guarantor RTB mortgages on the market (I could be mistaken).

Beetroot24

Why are you so worried about something happening to your mum, if she is "still young enough"? Just curious.

leespot

Beetroot24 wrote: »

Why are you so worried about something happening to your mum, if she is "still young enough"? Just curious.

To be blunt, the situation is about money. There is a chance for someone to potentially make a large sum of money for very little input - does all sorts to people no matter how they dress it up with "family home", "emotional ties" etc etc.

Talking of inheritance whilst people are still breathing is despicable and selfish.

FBaby

If I become financially successful in my own right my mum is still young enough for it to be worth buying the house in the sense she'd save money in the long term and could have a better retirement and though she probably could technically afford the mortgage her employment is too unstable to take the risk so I would want to help her out in some way since I thought that if I be a guarantor or give her some of the money it would help her.

If' she's still young, what about looking for stable employment and then try to buy on her own? Surely that's what the concept of right to buy is all about, helping those on income not high enough to buy privately, but enough to become a home owner and look after a property with a discount.

You do come across with a huge sense of entitlement, both from your mum and the government. I too have many 'wants', mine would be to retire at 55, but to do so, I'll have to work hard and look at affording it myself, no discount to rely on just because that's what I want.

ViolaLass

You sound fearful to me - does the idea of living somewhere other than your childhood home worry you that much?

Mojisola

mm04926412 wrote: »

I want my mum to not have to pay rent anymore and have peace of mind in her old age

As a tenant, your mother has a secure tenancy, could claim housing benefit if she needs help paying the rent and will have all repairs and maintenance paid for by someone else. Isn't that peace of mind?

sparky130a

ViolaLass wrote: »

You sound fearful to me - does the idea of living somewhere other than your childhood home worry you that much?

I'd say mercenary is nearer the mark.