can my daughter buy our council house

wubbzy

myself and my husband are not in a position to be able to buy our council house which we have lived in about 18 years.

our daughter will soon be able to buy a property, we were wondering if she would be eligible to buy our house if she continued to live in it with us for a while, also any chance our discount be able to be passed onto her or not, thank you x

kinger101

So you want to screw over both the both the taxpayer, and your daughter who'd lose her first time buyer stamp duty exemption.

AdrianC

Is your daughter on the tenancy? If so, she may be able to.

You do understand that all costs of maintenance will become her responsibility?
And that if she hits financial trouble, you may all need to move?

How old is she? I presume she doesn't want to live with her aging parents for the remainder of your lives, and has plans to actually build a life of her own...

wubbzy

kinger101 wrote: »

So you want to screw over both the both the taxpayer, and your daughter who'd lose her first time buyer stamp duty exemption.

i don't understand that sorry, i was just wondering if it would help her as she could rent it out to us and use that money for a mortgage in the future when she does move out, i was trying to help her get a good start and don't appreciate you thinking id ever sure her over, i wasn't sure hence why i was asking for advise

csgohan4

why would you risk your secure tenancy for something unsecured.

You do know your going to have to cough up for maintenance specifically your daughter. Could she afford to pay for a new boiler or a roof?

Loss of FTB is not something to take lightly, means extra stamp duty, she won't want to live you forever will she, if wants her own life, partner, children,

You are aware of the legal and tax implications of renting a property out ? not to mention most lenders don't like to rent out to relatives

Is this for inheritance reasons? Why do you want her to buy the house Is it because you saw the discount and saw only £££

https://forums.moneysavingexpert.com/discussion/6003024/right-to-buy-flat-warning

https://forums.moneysavingexpert.com/discussion/5856039/service-charge-being-billed-for-5000-major-works

https://forums.moneysavingexpert.com/discussion/5789909/new-roof

wubbzy

AdrianC wrote: »

Is your daughter on the tenancy? If so, she may be able to.

You do understand that all costs of maintenance will become her responsibility?
And that if she hits financial trouble, you may all need to move?

How old is she? I presume she doesn't want to live with her aging parents for the remainder of your lives, and has plans to actually build a life of her own...

she is only 18 and is not on the tenancy, i understand mainanence costs, we would obviously be paying rent as we are now, i was trying to help her get a good start, something we didn't have, i thought if she could use our discount it would help her that was all

csgohan4

wubbzy wrote: »

she is only 18 and is not on the tenancy, i understand mainanence costs, we would obviously be paying rent as we are now, i was trying to help her get a good start, something we didn't have, i thought if she could use our discount it would help her that was all

If she is not on the tenancy then answer to your original question is NO

glider3560

How can your 18 year old daughter afford a deposit for the mortgage? I assume she hasn't been working for very long, so won't have a massive amount of savings.

G_M

Far better for your daughter to use her FTB benefits to get a property of her own, rather than become a landlord with all the legal and tax implications.


And far better for you to retain your secure tenancy, with guaranteed maintenance.

[Deleted User]

wubbzy wrote: »

myself and my husband are not in a position to be able to buy our council house which we have lived in about 18 years.

our daughter will soon be able to buy a property, we were wondering if she would be eligible to buy our house if she continued to live in it with us for a while, also any chance our discount be able to be passed onto her or not, thank you x

Your daughter can make a joint application with you and/or your husband. She doesn't have to be a tenant but she does have to have lived with you for the 12 months prior to making the application.

As it's your discount, not your daughter's and it will be a joint application it will also require a joint mortgage.

"up to 3 family members who’ve lived with you for the past 12 months (even if they do not share your tenancy)"

https://www.gov.uk/right-to-buy-buying-your-council-home

wubbzy wrote: »

she is only 18 and is not on the tenancy, i understand mainanence costs, we would obviously be paying rent as we are now, i was trying to help her get a good start, something we didn't have, i thought if she could use our discount it would help her that was all

How is this going to help your daughter long term? Is she planning on living with you forever? What happens when she wants to live without you? Who will move out? What will happen with this property?

Why would you obviously be paying rent when you would be a joint owner?

HampshireH

How can your 18 year old daughter afford a deposit for the mortgage? I assume she hasn't been working for very long, so won't have a massive amount of savings.

Could be inheritance, personal injury payment, or savings someone else has been accruing on her behalf maturing for a deposit.

Why an 18 year old would want a mortgage god knows.

How they could guarentee repayments even more so.

I imagine any mortgage provider would struggle with evidencing their daughters affordability.

OP your daughter will miss out on too much.

* FTB discount
* Freedom - she will become a landlord at 18 and tied to a what 25 year mortgage?
* Have to stay tied to the area unless they can afford a 2nd property else where
* Have maintenance costs etc
* May struggle to sell in the future when she decides she wants to move on.
* May have to evict you when she can no longer afford to house you

All things no 18 year old should have to be worrying about.