Buying parents housing association property.

Pixie5740

Are people still believe this bulls**t thread?

Few housing association tenants have the right to buy. There is the Voluntary Right to Buy pilot scheme in the Midlands and some HA tenants have a Preserved Right to Buy if their home was originally a council home before being passed to a HA. The rest only have the Right to Acquire which offers a much smaller discount. The one thing all these schemes have in common is that it's the tenant who has the right to buy/acquire not their children, not their siblings, not Bob from down the road, the tenant. Other people might for whatever reason want to financially help the tenant exercise their right but the fact remains that it is the tenant's right and nobody else's.

Then to hammer home the message that this thread is pure fiction we now have a council handing out unqualified tax advice and ways to fraudulently claim housing benefit. :rotfl:

blueball

Mrs_Imp wrote: »

Can he actually afford to pay you rent? A quick look using Birmingham as an example with a 3 bed house (big enough to convert into flats) reveals he'd get approx £75 Hb (£98 minus 25% for spare bedrooms) with rent being at least £150/week. If you don't charge market rate it'll be a contrived tenancy and he'll get no help. If you do charge market rate you'll be forcing your father to hand over at least £75 a week to line your pocket, which is likely to be more than he currently pays. Are you happy to be fleecing your father?
What happens if your limited company gets in to financial difficulties? It'll have to sell the house and your father will lose his home.
If you were wanting to do anything other than line your pocket you'd offer to let him live there for free or for a peppercorn rent.
You are giving up your father's security.
If you genuinely want to help your dad then leave him be. He has a home, and he isn't responsible for any repairs. Take him on holiday, go and visit him, take him on days out, but don't take away the security of his home.

HB told us to charge the LHA rate, that means he would get the full amount and wouldn't have to make up any shortfall.

The LTD company would be a special purpose vehicle setup for the sole purpose of collecting rent, so it has no expenses or significant risks other than maintenance on this one property.

blueball

Pixie5740 wrote: »

Are people still believe this bulls**t thread?

Few housing association tenants have the right to buy. There is the Voluntary Right to Buy pilot scheme in the Midlands and some HA tenants have a Preserved Right to Buy if their home was originally a council home before being passed to a HA. The rest only have the Right to Acquire which offers a much smaller discount. The one thing all these schemes have in common is that it's the tenant who has the right to buy/acquire not their children, not their siblings, not Bob from down the road, the tenant. Other people might for whatever reason want to financially help the tenant exercise their right but the fact remains that it is the tenant's right and nobody else's.

Then to hammer home the message that this thread is pure fiction we now have a council handing out unqualified tax advice and ways to fraudulently claim housing benefit. :rotfl:

I detect a slight air of resentment. I'm afraid to say however that you are wrong and many many people have been doing this for many years. In my community it's common for family members to buy property for their parents, and most people I know have acquired their property through right to buy at significant discount. You can keep saying that RTB doesn't exist or the discount levels doesn't exist and that's fine, but you are in fact incorrect most people I know have a 50% discount offer.

Although a lot of properties are converted into flats or HMO's nobody is taking the properties away from the system as they are often rented back to tenants on housing benefit. Also converting the properties into HMO's or flats actually increases the number of properties on the market, So we are doing a better job than the council.

Instead of just screaming fraud and ethics maybe you should just ring up your local council and ask them what you are entitled to.

Pixie5740

blueball wrote: »

I detect a slight air of resentment. I'm afraid to say however that you are wrong and many many people have been doing this for many years. In my community it's common for family members to buy property for their parents, and most people I know have acquired their property through right to buy at significant discount. You can keep saying that RTB doesn't exist or the discount levels doesn't exist and that's fine, but you are in fact incorrect most people I know have a 50% discount offer.

Although a lot of properties are converted into flats or HMO's nobody is taking the properties away from the system as they are often rented back to tenants on housing benefit. Also converting the properties into HMO's or flats actually increases the number of properties on the market, So we are doing a better job than the council.

Instead of just screaming fraud and ethics maybe you should just ring up your local council and ask them what you are entitled to.

I'm not screaming fraud or ethics I am just pointing out that your story has more holes in it than a block of Jarlesberg.

If your father wishes to exercise his Preserved Right to Buy/Voluntary Right to Buy/Right to Acquire then he has to exercise the right and he is only able to make a joint application with someone who shares his tenancy or up to 3 family members who have lived with him for the past 12 months.

You might want to help fund the purchase and you might even be eligible to make a joint application with your father but the fact remains that it's your father's right and your father's discount which means the only way to purchase the property, regardless of who funds what, is either solely in your father's name or jointly with your father, so which is it?

Pixie5740

In your other thread you want to take a credit card company to the Financial Ombudsman for giving you unqualified financial advice. Why do you want to take unqualified tax advice from the council, have you not learned your lesson?

https://forums.moneysavingexpert.com/discussion/5869992/credit-card-unqualified-financial-advise-given-admission-letter-want-to-invove-ombudsman

Norman_Castle

blueball wrote: »

I detect a slight air of resentment. You're hoping to provoke resentment. I'm afraid to say however that you are wrong and many many people have been doing this for many years. In my community it's common for family members to buy property for their parents, and most people I know have acquired their property through right to buy at significant discount. You can keep saying that RTB doesn't exist or the discount levels doesn't exist and that's fine, but you are in fact incorrect most people I know have a 50% discount offer.

Although a lot of properties are converted into flats or HMO's nobody is taking the properties away from the system as they are often rented back to tenants on housing benefit. Also converting the properties into HMO's or flats actually increases the number of properties on the market, So we are doing a better job than the council.

Instead of just screaming fraud and ethics maybe you should just ring up your local council and ask them what you are entitled to.

Name the HA. There is no HA vRTB current running.



Family member buying parents property to rent back to them funded by council tax payers? RTB properties bought the rented privately? Entitled to?

Bull!!!!.

Mrs_Imp

The ltd company would be responsible for insurance, repair, and legal issues arising from the house. A neighbourly dispute, or a new roof, or a new boiler, or any manner of unforseen disasters could put the company in to financial difficulties.

Icarus01

So not only will you get the chance to own a house at half price, you'll use taxpayers money that's entitled to your father to pay yourself rent? Even if this is somehow legal, do you not have any morals?

Give your dad the money, let him own it rent-free and when he passes the house goes to you

csgohan4

Stop feeding the troll... just saying

SnooksNJ

Pixie5740 wrote: »

In your other thread you want to take a credit card company to the Financial Ombudsman for giving you unqualified financial advice. Why do you want to take unqualified tax advice from the council, have you not learned your lesson?

https://forums.moneysavingexpert.com/discussion/5869992/credit-card-unqualified-financial-advise-given-admission-letter-want-to-invove-ombudsman

The credit card company must have paid out a lot of money because the OP went from financial difficulty to paying cash for a house. If this Right to Buy/ Housing Benefit plan goes south just imagine what the HA will have to pay.