Ways to inherit the right to buy

AdrianC

ViolaLass wrote: »

She wants an inheritance and is making it happen, with her own money.

<scratches head>

Mojisola

You also don't want to end up in this poster's situation -
https://forums.moneysavingexpert.com/discussion/5578856

mm04926412

sparky130a wrote: »

But it isn't your cash is it. Grow up.

I'm confused what you mean, I'm saying when I'm older give her my savings if she falls on hard times, it would be my money, which I would not expect back.

societys_child

What happened was, to cut down youth unemployment, the gov't decided everyone should move on to higher education/ university.

Unfortunately, in many cases this perhaps wasn't the best course of action . . .

tlc678910

mm04926412 wrote: »

I'm confused what you mean, I'm saying when I'm older give her my savings if she falls on hard times, it would be my money, which I would not expect back.

In reality for many people it goes like this
Get job, rent room or flat
Find partner - max out on mortgage
Have kids - one of you goes part time/ stops working or you have high child care costs.

If you have pots of money about the place to give to your mum then you will be in a small minority of younger people. Can you really expect your mum to base her decision on the promise of these pots being there when she needs them?

Norman_Castle

mm04926412 wrote: »

I live with my mum when I'm not at university and would have come home for a while when I graduated before finding my own place

I'm not sure if council tenancies consider students as temporarily away from home. If you lived at the property before moving to your student accommodation, return home between terms and expect to return after graduating would they consider you as a tenant?

Its possible you could fund or part fund the purchase but at present you cannot do either so wait until you know what your employment situation is and then consider your options.

gettingtheresometime

It may have something to do with your dad dying but at some point that house will stop being your home.

My mum still lives in the house I grew up in and it has lost its emotional attachment as I made my own home.

Cakeguts

mm04926412 wrote: »

I'm confused what you mean, I'm saying when I'm older give her my savings if she falls on hard times, it would be my money, which I would not expect back.

She is less likely to fall on hard times than you are. If she can't pay the rent she will get housing benefit. If you can't pay your rent you will have more of a problem because housing benefit is restricted for people under the age of 35.

Your mum is fine living in a council house. It is the best place for her to live in a council house.

Person_one

fairy_lights wrote: »

You need to stop thinking of the right to buy as an inheritable asset. Your mother has a secure lifelong tenancy, isn't that enough?

I wonder why so many people fail to appreciate the value of this.

If I had a secure, lifelong tenancy with the council there's no way in hell I'd have bought a house and all the responsibility and financial risk that goes with it!

sparky130a

societys_child wrote: »

What happened was, to cut down youth unemployment, the gov't decided everyone should move on to higher education/ university.

Unfortunately, in many cases this perhaps wasn't the best course of action . . .

Indeed it was folly.

And the full ramifications haven't been felt yet.

But some have benefited, iv'e got skilled civils operatives on well over £60K PA. Problem is none are under the age of 30.

More worryingly every graduate i get has no stomach for the true job, i.e out on site on a day like today. But they still feel entitlement to a large salary.