Info on buying Housing Association House?

Gastines3

Without my Daughters knowledge.. She has lived in a H.A.House for about 20 years,always worked and never asked for any financial help,although new kitchen/car etc. have been given over the years. My wife and I would like to know if these half rent/half own on a mortgage properties,are possible to buy. Does the half owned by the H.A. value at today's current value,we presume it does and is there any discount for long term tenants as with Council properties?Any advice welcomed.

seashore22

You want to buy the house your daughter lives in without her knowing about it?

Gastines3

No. We want to give her the money to buy it but are trying to get a few ideas on budget first,totally in her name.

fairy_lights

Gastines3 wrote: »

My wife and I would like to know if these half rent/half own on a mortgage properties,are possible to buy.

I'm not sure what you mean by this?
Are you asking if it's possible to buy her housing association property on a shared ownership basis, rather than buy it outright?
It's a bit weird that you're looking in to this without your daughters knowledge, surely it's up to her to decide if she wants to buy and do the research herself?

xylophone

https://www.peabodysales.co.uk/shared-ownership/buying-shares-in-your-shared-ownership-home/

Is the above relevant to the case?

davidmcn

Penitent wrote: »

Are you saying she's currently in a 50% shared ownership house and you want to buy the other half for her?

I think this is what the OP means.
Whether the daughter is entitled to buy the other half depends on the agreement she signed with the HA. It would normally be at market value rather than a discount.

teddysmum

davidmcn wrote: »

I think this is what the OP means.
Whether the daughter is entitled to buy the other half depends on the agreement she signed with the HA. It would normally be at market value rather than a discount.

That would account for the OP buying the daughter a kitchen, as this would be unlikely in a 'straight' rented property.

Lioness_Twinkletoes

Generally, HA properties have the right to acquire. Discounts are capped at £16k. Some do offer Shared Ownership deals as well.

Gastines3

It seems what I thought might be a straightforward,or fairly straightforward,query isn't, as I have obviously not put over the relevant points. A,Reason we ask is because she would never ask for a penny,so trying to find out any pitfalls before we broach the subject.B,We obviously can't/won't make any direct enquiries to the H.A. without her knowledge and C. We are almost sorry we asked the question. Goodnight.