Dad buying council house

Turnbull2000

The taxpayers don't owe you an inheritance. Go stand on your own two feet.

macaque_2

I would be very careful. Your father has very little scope for buying his way out of trouble if something goes amiss. As one responder pointed out, your father will become liable for bills that would currently be covered by the council.

Secondly, the housing market is in a state of severe flux at the moment. Where property prices are heading is anyone's guess. If he buys at today's valuation, this could end up looking expensive in 5 years time (even taking account of the discount).

dontshootthemessenger

What a pity your father didn't think of leaving something for his children ten years ago or so when we were at the bottom of the property cycle rather than (as many now believe we are) at the top.

Even with the discount, when the crash hits (and it will hit council houses in spades) you might well find that your 'inheritance' is a big fat debt.

And I, for one, will shed no tears.

I make no apologies for the harsh tone of this response. Your father is disabled and is rightly housed and provided for financially by the state.

He has nothing to leave you. Tough sh*t. Why should I, along with other UK taxpayers provide you with a legacy ?

poppy10_2

Your dad won't be leaving you anything as he hasn't earned anything. tough. The house belongs to the council.

dmg24

I was under the impression that the DWP will only pay interest on mortgages that are in place prior to the claimant being on IS (but I could be wrong). (Edit: Sorry cattie, you said that further up!).

If not, we would all claim IS and buy houses?!!

dmg24

Argyll wrote: »

When he dies god forbid then the house he has lived in for over forty years goes back to the council. Only for some immigrant to bypass the queue and get the house!

He wants to leave something for his children.

Maybe you should get a brain before considering what to do with your future inheritance?

Moorepart

Weren't these the very people who'd been stung on that program the other day?


Strangely, the son isn't trying to stop his father from doing this....maybe he'd be happy to inherit 5 or 10 thousand,
even if it meant that his dear old Dad had to suffer a desperately poor existence for 20 or 30 years.

I wonder whose idea it really is..?

moneysavinmonkey

This advice from shelter would help you Dad.
http://scotland.shelter.org.uk/advice/advice-2947.cfm

The advice previous posters have given that you will not get any mortgage interest payments if you take out the mortgage whilst on benefits do not apply in this case...
"If you got your mortgage after you started claiming benefits, you may not be eligible. If you are disabled or buying a home for someone who is disabled, this rule does not apply."

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Having said that in the interests of moneysaving (and given that the reason for buying the house is nothing other than providing an inheritance) I think it would be an extremely bad move by your dad and not something that you should encourage.

Other people have already pointed out that he will lose the security of tenure of being a council tenant and would be responsible for all repair + maintenance costs on the property. It is more than likely that you dad would end having to contribute more towards the mortgage. If mortgage payments were missed your dad could lose his home.

Who is to say that the government won't supuriously change the rules and cap/cut/abandon mortgage interest relief or other benefits in the future?? They just did a massive u-turn on CGT for small businesses so I wouldn't put anything past them! The signs point towards a need to tighten treasury purse strings - who knows where it will come from.

Without even going into the whole house prices up/down arguments I think you would be doing your dad a great disservice in letting him take big risks with his future financial security and home in order to (possibly) provide you with an inheritance. It just doesn't make any financial sense and would not be in his best interests.

SquatNow

Is this guy SERIOUSLY asking us to give him advice on how to STEAL money from US, the taxpayers?

This is part of the problem with our society... the whole me-me-me attitute.

The amount of people these days who apply for council housing simply so they can buy it at a knock-down price is ridiculous.

Right-To-Buy has effectively eliminated social housing... a few people got free/bargain houses, and the rest of humanity for the rest of time is saddled with the results of no social housing... e.g. house/rent prices with no controls.

Council/Social housing is an important part of a functioning society... it holds down the cost of housing by giving people a choice. The sale of it is a crime against humanity.

pickles110564

SquatNow wrote: »

This is the problem with our society... the whole me attitute.

Get a life Squit Now, good on him wanting to buy and setting up a nice nest egg for his family.

I wish everyone thought and cared about their loved ones.

Your attitude stinks as all ways, move to russia and do everybody a favour and let us do what we can to help and provide a secure future for our loved ones