Can I rent out my Right to Buy House

Turnbull2000

As much as it pains me to say it, I'd undoubtedly do the same if I was in his position.

But this thread makes depressing reading when as a graduate and above average earner, I currently have little chance of buying just a single home, and if I have children, they potentially face the very unsettling threat of eviction every six months and moving to a different school.

Graham_Devon

mrt04 wrote: »

Thanks seven-day-weekend ! !
Originally I only posted this thread for some advice, never in the world did i expect this kind of response and reading everyones different views, I agree not everyone will agree what im going to do but I need to look after my family and unborn child, which im sure any other parent would do.

So your going to do it anyway?

Disgusting. It really is sick. You should not have been given that chance.

Merton

mrt04 wrote: »

Thanks seven-day-weekend ! !
Originally I only posted this thread for some advice, never in the world did i expect this kind of response and reading everyones different views, I agree not everyone will agree what im going to do but I need to look after my family and unborn child, which im sure any other parent would do.

Don't try to justify it. Your motive is greed. I pray you don't pass that attitude on to your child. The last thing this country needs is more people like that. Houses are not for hoarding. Wake up and do the right thing.

seven-day-weekend

Graham, what exactly do you expect him to do with his home if he is going to buy a bigger house?

The Council don't want it back. So he can either rent it or sell it - why is one worse than the other?

Merton

seven-day-weekend wrote: »

Graham, what exactly do you expect him to do with his home if he is going to buy a bigger house?

The Council don't want it back. So he can either rent it or sell it - why is one worse than the other?

Who needs two homes?
Why on earth should he stand in the way of someone else having the opportunities he has had?
Why are you defending his position?

Melissa177

Who needs two of anything? Two cars? Two TVs? Isn't one enough? I'm not a big fan of using reductio ad absurdum, but it illustrates a point. Housing is a commodity like anything else. Just because we all need food, water & shelter doesn't mean it can't be traded.

I don't think this idea is really in the spirit of the RTB law, but I don't see that what the OP is doing is outrageous. As Seven Day Weekend points out, he could either sell or rent - either way, he's giving a home to someone else.

20 years ago people complained there weren't enough places to rent - now we have then, people are still complaining.

seven-day-weekend

I'm not defending his position, there is no need to defend it.

All he has done is exercise his LEGAL right to buy a Council home. I'm sure you would do the same if you had the opportunity. It is never going to be a Council home, ever again. So no-one else is ever going to have the opportunities he had, with that particular house, whether the OP sells it or rents it out . That house is lost to the Council for ever. You may not like the legislation, but that is the law.

I don't see why he should sell it if he doesn't need to. It's still providing someone with a home, whether he sells it or rents it out.

I would just like to add that I have a son whom I wish could have a Council house and can't because so many are taken out due of circulation to RTB legislation, but the OP did not make the legislation. His house is lost for ever to the Council, it belongs to him now and he can do whatever he pleases with it, the same as anyone else who owns a house.

Graham_Devon

seven-day-weekend wrote: »

Graham, what exactly do you expect him to do with his home if he is going to buy a bigger house?

The Council don't want it back. So he can either rent it or sell it - why is one worse than the other?

Right, i'll explain.

When you go to work, you get money taken off you. 22-40%. You go to work to try and look after yourself, better yourself. Millions struggle to get on the ladder, and to pay rent.

The OP had it slightly different. He paid less rent, which we all pay for. He then got up to 30k just GIVEN to him, THIRTY THOUSAND, as a deposit to buy his house. That money came straight out of the pot others are going to work to pay into. The others do not get that, only a select few who have already had it easier in the first place.

Now, he's realised that he can make a profit on this house out of charging those very same people who don't have those chances, but do pay into that pot, a rental fee. Not lower, same as everyone else.

He's realised he can buy another house with their payments contributing to his bigger home.

It's sick, because he was one of the select, lucky few who got given, not loaned, an amount to try and better themselves because apartently they were worse off than the rest.

He's now abusing that by using it to gain even further, charging those who still cannot afford to get onto the ladder a rental fee, and the only reason he can do that, is yes, us, the taxpayer, the exact same people that helped him get there.

In my mind, it is exactly the same as benefit cheats.

He should sell the house like everyone else would. Not start a rental business and have 2 houses, one of which was funded partly by the tax payer.

If he wants to start renting out, he can do it the same as everyone else.

It's nothing to do with green eyed monsters. It's all to do with what is morally right and wrong. He obviously doesnt care, so long as he benefits.

Graham_Devon

mrt04 wrote: »

Many Thanks

I will get in contact with my solicitor in the morning, to make things easier my current mortgage aint a right to buy mortgage ( Just bought the house off my local council) its just a normal repayment mortage which I am porting to my new house and i am currently going through a buy to let mortgage for this house, so fingers crossed there shouldnt be a problem, i dont fancy selling back to the council as i stand to lose alot of money as i currently have about 45 grand capital in the house. i want to keep it till the discount repayment period is over then possible sell, Thanks again

And this line says it all to me.

Greed. Nothing but greed.

seven-day-weekend

Yes, he was lucky and had an opportunity that others won't have. My son won't have it. But he has actually done nothing he is not allowed to do and that house, at least, as I said in my post abover, is lost to the Council whether he sells it or rents it out. I don't see as it makes any difference which one he does, it is still not ever going to be a Council house again.