Anything stopping me buying parents' council house?

Sugarplumfairy_2

SquatNow wrote: »

Maybe so but he didn't have the right to let it out for AT LEAST 3 years. Effectively you broke the law and stole money from the taxpayer.

The cash you "made" isn't yours... it should belong to the taxpayer and I truely hope they catch up with you and throw you in prison as an example to others.

Too many people are asking "could I do this" without ever asking "should I do this".

I think you will find that once you buy the house from the council then you do have the right to let it out. The only clause is that you cannot sell it for 3 years !! If I had broken the law then perhaps my solicitor and the council would have noticed this when they seen the paperwork ??

Sugarplumfairy_2

Running_Horse wrote: »

For the umpteenth time, the OP is not the tenant. That is the problem.

And I wasn't the tenant either .... but this was def the more affordable option for me and my family ... so shoot me !!

Running_Horse

Sugarplumfairy wrote: »

And I wasn't the tenant either .... but this was def the more affordable option for me and my family ... so shoot me !!

I don't know you and don't care. You are not that important. Stop trying to be the centre of attention. Drama queen.

Sugarplumfairy_2

Running_Horse wrote: »

I don't know you and don't care. You are not that important. Stop trying to be the centre of attention. Drama queen.

I think you may find that I was answering the OP's question. Centre of attention ? Ifs that what you think :rotfl:

maria990_2

Been reading and it seems the best thing to do is to lend the money to my parents and they can pay me back instead of paying rent.

I can take half what the rent costs and they can use the rest for good insurance on heating and other stuff maybe have some leftover.

Then if they need care when they are older the house can be sold to pay for it though i worry about that bit as I or them might not have much control over it. Can I assume this wont cause any tax problems?

RTB seems to be a real issue for some people. No idea why. Get a life honestly.

Sugarplumfairy_2

maria990 wrote: »

RTB seems to be a real issue for some people. No idea why. Get a life honestly.

My thoughts exactly ! Maria, whatever you decide to do I hope it all works out for the best.

Sugar xx

localhero

Maria,

My post #49 provides an option for your family that takes into account the care fees issue.

You may have missed it amid the squabbling that followed on from it.

Best wishes

Curv

maria990 wrote: »

RTB seems to be a real issue for some people. No idea why. Get a life honestly.

Perhaps if you actually bothered to read all of the comments posted then you'd have at least some idea...

However, it appears that you only want to 'know' about things that enable you to do whatever you want to.

And FYI I have a life - but thanks for the intervention

dontheman_23

Me and brother are thinking of buying my dad's rented flat, that my brother also stays in. I understand my brother's name will be on the
deed but mine won't be on there until after 3 years. Is this correct?

I was also wondering if one of us gets made unemployed at anytime while we have the mortgage, how does the insurance work, if one of us gets made redundant are they covered by the insurance and does the other person have to keep paying there share or would the insurance cover the whole mortgage?

Is there any other wee problems that I should look out for before
going into something like this.

Thanks anyone that comes up with some useful information for me

Cheers

SandC

Have you considered that you would be paying a mortgage on a house you are not living in and therefore wouldn't be able to get another one for yourself? I don't know what your personal circumstances are so maybe you earn enough to cover two properties or the potential for that?