Advice on buying parents house

cashlady

Hi Guys, need some advice please,

1 My parents have been council tennants for 30+ years so have good discount
2 They are retired and on pensions / benefits

3 If i bought their house , using their discount, how would this affect them , if at all

4 I am a first time buyer unable to afford "normal" priced house hence enquiry

Thanks in advance for any help/advice

david29dpo

Talk to your council, the only "advice" you will get on here is how bad you are even thinking about it. I personally would do it, given the chance.

wherediditallgo

In your position, I really wouldn't start a thread on this subject on this site, though you have every right to post here. Threads in the last month on the same subject have turned very judgemental & less about advice. I've given you links to the other threads - you might want to take a look, as I don't think the responses you'll get will be any different.

Parents' (started 6 Nov)

Grandma's (started 10 Nov)

seven-day-weekend

Yes, I agree, speak to your Council, some people on here are very abusive towards people buying Council houses.

However, I can say that whoever provided the money, the house would have to be in their names as they are the ones with the Right To Buy.

They would not be able to make it over to you until the 'tie-in' period had finished without losing their discoount .

It would not affect their basic pension but will probably affect their means-tested benefits.

Hope you get the advice you need.