Anything stopping me buying parents' council house?

lynzpower

What makes you think you should be entitled to a cheap house at the taxpayers expense? What the hell makes you think we are going to give YOU advice on how to STEAL money, from US. And dont make a mistake here, that's what you would be doing... stealing money from honest taxpayers.

Sorry, enlighten me. What do squatters do?

Badger_Lady

I know it was a while ago now, but my Great-Granddad took out a 15-year mortgage when he was 70 to buy his council house! The mortgage repayments were less than the rent had been, and he stopped paying when he was 85. How the mortgage company knew he was going to live into his 90's, I have no idea.

But surely your 50-yr-old parents could get a mortgage..? How much can they buy the property for?

maria990_2

Some people think its stealing when you claim back bank charges you agreed to in a contract.
Some people think its stealing when people claim that debt isn’t theirs cause companies don’t have the original signed documents.
Some people thinks its stealing when people claim back PPI charges they would have claimed on had they needed to.
The point is that none of these things are stealing they are all perfectly legal. This website is a place to get advice on these and any other money matters without being judged.
I asked if legally, I could buy my parents house that I myself lived in for over 20 years. It turns into some very personal attacks. Surely this is not the way MSE should be.
Thanks to everyone who has been helpful.

Running_Horse

seven-day-weekend wrote: »

I am sick and tired of people being abusive to others who are enquiring about RIGHT to buy - notice the capitals, it is a RIGHT. If you don't like the policy, write to Flash Gordon and ask him to change it.

As I understand it the OP has no RIGHT to buy. The parents do.

As others have pointed out, they also have security now. There was a recent Panorama programme where a daughter had encouraged her disabled parents to buy their council house, which was in the process of being repossessed. There was lots of criticism of the mortgage company, but not a word about the absent daughter.

IveSeenTheLight

Maria990,

Please ignore and try not to get frustrated by the negative comments. If you look closely its the same people who hijack most posts to spout their doom and gloom issues and how they are so hard up.

To answer your question, you can buy your house for your parents.
I have family who bought for their parents in Scotland.
The reason they bought it was so that they could have the house decorated and modified for the parents needs, without needing to go through council permission.

In time the parents had to go into care and the house was sold with the proceeds going to pay for the care home. This actually saved the tax payers money. (So go on, stick the old 'V' sign up and stick your tongue out at those negative commenters)

Hope you get this sorted out and get to give your parents peace of mind and or a better place to live.

GeorgeUK

Hi Maria

As monkeyspanner said - the bank would get their money back from the sale of the house if the mortgage didn't get paid. I would definately not wait to save until you had enough as when the value of the house is done it may have increased from today's value.

I think the jist of it is that the mortgage and documentation would need to be done by your parents and be in their name.

Not sure if you would be able to give your parents an interest free loan for the amount they would need to buy it for and then they repay you. Unsure if there are any tax implications with this. I'm sure the banks would be quite happy to discuss with your parents the options available to them.

Also check out the martgages board here to see if there's a way to clear the debt quicker and what type of mortgage may best suit the situation - for your parents.

Sugarplumfairy_2

maria990 wrote: »

I think its a 70% discount in Scotland so be about £25,000.

Hi Maria,

We have lived in our council house for approx 30 years. I moved out after approx 18 years and my mum died after approx 20 years. So my dad was in a large house on his own. He decided it was too big for him and decided to move down south. So rather than giving the house back we decided that my dad would get a mortgage and full discount (66% if I remember right, also Scotland) which I would pay and I would move in. So I paid his mortgage for 3 years then the title was transferred to me. I have just sold the house and moving next month. And yes I did make a substantial amount of cash.

To all the others who have judged :

Unethical some may say, but that was his right to buy it. It was also his right to transfer the deed to me.

I am aware that there is a lack of decent council housing available, but blame the council not the tenant who chose the right to buy. Most people would rather buy and get some equity than pay rent and receive nothing back.

Maria my dad was 60 and retired when he got his first mortgage. But through the lawyer we had an agreement that I would be liable for the mortgage payments. The mortgage payments were 2/3rds of the rent. So i could have transferred the house from the council and paid rent but I couldn't afford too. So maybe many see this as getting a house on the cheap. But pay £ 400 a month for rent or £ 135 a month for a mortgage which would you choose ???

CB1979_2

sod all the BS, look after number 1

go see an IFA/solicitor and get PROPER advice on how to do it.

certainly don't listen to SQUATNOW for ethical advice about stealing when he advocates breaking into people's homes (second, third, fourth or whatever) and using their assets to benefit him to live rent free (yet i do believe he's full o sh*te and actually pays a mortgage )

good luck Maria, let us know how you get on.

Running_Horse

Sugarplumfairy wrote: »

To all the others who have judged :

Unethical some may say, but that was his right to buy it. It was also his right to transfer the deed to me.

I am aware that there is a lack of decent council housing available, but blame the council not the tenant who chose the right to buy. Most people would rather buy and get some equity than pay rent and receive nothing back.

If someone came on these boards asking how to claim a state benefit they were not entitled to, would we have to be "nice" to all moneysavers? What if what their actions deprived someone else of that benefit who needed it more? I assume the OP has somewhere to live?

Why blame the council who have no right to stop what is happening, or replace depleted housing stocks? And in some cases, as I mentioned in a previous post, the tenant is better off renting than buying. I hope that is not the case here for their sakes,

I would have no problem if the OP was asking how her parents could buy their own house they have rented for years, but that is not what is being asked. There was even a thread recently asking how to use the equity in someone's council house to buy another place abroad, and another wanting to buy and live in a relative's flat. Should we all have been "nice" to them?

Sorry this quick reply has grown out of all proportion to what it originally was, but there is a fine line between asking for help and taking the Mickey, and most people understand where that line is.

GeorgeUK

Which is why it is best to state where that line is and steer the poster to a solution that will be beneficaial, but which they may not have considered. If their parents can get a mortgage that cost less per month than their rent - result.

Attacking an idea is fair enough - everyone's entitled to their opinion, but likening the poster to a thief because of the wording used?

Anything to stop me buying parent's council house? - Yes
Anything i can do to help my parents buy their council house? - Yes (see above )