Looking for a Right To Buy Mortgage with Mum - She is the tenant and 67

fairy_lights

Mrs_Flax wrote: »

She would be financially better off and have more security.

Not really. What if something happens to you and you can't pay the mortgage, or can't afford repairs?
What happens a few years down the line when you want to start a family of your own, are you going to be happy living with your mother for the rest of her life?

SnooksNJ

Mrs_Flax wrote: »

Guys - please understand that I've been there since 1991 (I was three when I moved in.) I'm not looking for a political debate on the right to buy scheme or why my mum might be upset that after living somewhere with her family for 26 years, putting a lot of money into it herself with home improvements and then knowing that that house won't be my family home too forever because I may want to buy a house one day too. I can buy the house as long as I can get a mortgage - that's what my post is asking for help with. Thanks.

My parents sold the house I grew up in. They put a lot of money in to it as well. Trust me you will get over it. If you can't, that's what Prozac is for.
Secondly, Besides carrying 2 mortgages, I'm not sure what right to buy and you buying a home have to do with each other.
Finally. Banks are open for another few hours. Perhaps ask them.

Mrs_Flax

Right guys - The top and bottom of it is that I'm buying it. the rules say me and my Mum can and we will. I just thought people in a similar situation might have had some advice for me with regards to banks or brokers but instead, it's in honesty a lot of people second guessing situations who just like to have 'opinions'. I'll leave you all to this. Seems that this thread have brought a lot of people together who seem a little angry so maybe you can carry on ignoring what the post is about and use this as a self-help group for your personal issues that you have with your own lives? Have a good day guys!

csgohan4

OP if your home is repossessed the council may not house you as you intentionally made yourselves homeless due to not paying your mortgage.

Think carefully here, Money and family shouldn't mix. What if you meet someone and you need to move out?? Can you afford 2 mortgages plus the extra stamp duty for example?

The replies on here are not against you personally, they are to ensure you have access to balanced views i.e the other side of the fence. You also have to have thick skin to ask regarding RTB on here. Good Luck OP, hope it works for you anyways

Red-Squirrel_2

Mrs_Flax wrote: »

Right guys - The top and bottom of it is that I'm buying it. the rules say me and my Mum can and we will. I just thought people in a similar situation might have had some advice for me with regards to banks or brokers but instead, it's in honesty a lot of people second guessing situations who just like to have 'opinions'. I'll leave you all to this. Seems that this thread have brought a lot of people together who seem a little angry so maybe you can carry on ignoring what the post is about and use this as a self-help group for your personal issues that you have with your own lives? Have a good day guys!

So do you not believe us about the downsides or do you just not care?

We're not saying it for our health, its all true I'm afraid.

fairy_lights

Jesus, why bother asking if you already know what you want to hear?

Mrs_Flax

Thank you for the nicest reply of the day! We have sat down and considered all of your points preciously, but they are relevant things to think about. Have a lovely day.

silvercar

Whereas it is helpful to point out the pitfalls of buying your home versus renting, political points about the RTB scheme would be better placed in other parts of the forum eg Discussion Time.

OP, welcome to the forum, I hope you stick around.

It may be that your mum needs to make you a joint tenant with her and then seek a mortgage, though this may not be necessary depending on the detail of the scheme.

It would also be worth posting on the mortgage board on the specific question of whether you can get a mortgage.

Red-Squirrel_2

Mrs_Flax wrote: »

I don't care what you think I'm afraid Red Squirrel. I wasn't asking for advice on downsides - I was asking for advice on the next steps. If I'd have wanted your opinion on the situation or what you thought personally about the RTB then I would have asked for it. You are a bit of a troll deep down aren't you? It won't make you a happy person you know? Try to see the good things in life. Maybe try looking at situations today as them being a glass half full? I think you will go to bed happier. But that's just my opinion.

Thanks for your concern, I only hope that you show the same for your mum.

Mrs_Flax

Thank you so much Silver Car! I really appreciate your response. As a newbie I may have posted int the wrong place but I will post on the other forum you have suggested. Have a lovely day and thanks again for your help.