Buying my mums council house

doodaadog

I am thinking of buying my mothers council house. She gets the full discount so at 100k the buy price would be 40k.
Clearly a good opportunity to regain some of my payments into the assylum seekers and scroungers fund.
I believe I have to live in the house for 6 months before I can be entitled to purchase.
Has any of you out there done the same and any advice and tips welcome

Bossyboots

doodaadog wrote:

I am thinking of buying my mothers council house. She gets the full discount so at 100k the buy price would be 40k.
Clearly a good opportunity to regain some of my payments into the assylum seekers and scroungers fund.
I believe I have to live in the house for 6 months before I can be entitled to purchase.
Has any of you out there done the same and any advice and tips welcome

I have had a quick look around and basically you have to be the tenant to invoke the right to buy. New tenants have to wait five years before they can do so.

Therefore, only your mum can buy the house under the Right to Buy scheme and get the discount.

calleyw

You might want to read this

You have to be tennant of a social landlord e.g Housing Assocation for 5 years and the Max discount is £38K or 60% as long as it does not exceed the max discount for the area.

So in theory that means a max discount of £38K not £60K which you seem to be thinking she should get. So she would need a mortgage of £62K.

Amazing what you can find when you use google

Yours

Calley

xboxundone

Bossyboots wrote:

I have had a quick look around and basically you have to be the tenant to invoke the right to buy. New tenants have to wait five years before they can do so.

Therefore, only your mum can buy the house under the Right to Buy scheme and get the discount.

Yes but maybe you can help her buy it... and have an agreement that she leaves it to you?

paint

doodaadog wrote:

I am thinking of buying my mothers council house. She gets the full discount so at 100k the buy price would be 40k.
Clearly a good opportunity to regain some of my payments into the assylum seekers and scroungers fund.

Some taxpayers may also object to subsidising people who purchase publicly owned housing stock at a knock-down price and make a quick buck. The right to buy is intended for people who have earned the right by living in a home for a number of years. I suspect, not for relatives to make a killing. We all pay tax and sometimes it's for things we may not agree with. I find your comment about asylum seekers and scroungers very offensive. Particularly in the context of the rest of your post. Pot, kettle, black.

lisyloo

Yes but maybe you can help her buy it... and have an agreement that she leaves it to you?

There are a number of problems with this.
1) She might change her mind (if you fall out?) and decide not to leave it to you.
2) If she needs long to care, the equity in the house will be used to pay for the fees, so you could end up with nothing.

A number of pitfalls with that route.

Midget_Karen

Sadly for you (but not the rest of the tax payers) it would seem that this isn't going to work, and you'll have to just try to find another way to buy yourself a house.

doodaadog

thanks for all your comments..... and advice......