Right to Buy Mortgage

sho_me_da_money

Hi,

My mother and i are proceeding with an RTB. We completed the RTB1 form and I have gone down as a family member sharing the RTB. For the record, I am not a tenant, my mother is. I am allowed to share the RTB with her and have been accepted by the housing association.

The S125 offer letter has come through addressed to my mother only. I presume it is because she is the tenant, which makes sense.

However, the mortgage lender is requesting this offer letter be addressed to both my mother and I. Given that I am not a tenant but an eligible individual sharing the RTB, can I get the housing association to add my name on the offer letter?

If I am unable to do that, what can I provide to the lender to satisfy that I am sharing the RTB? Perhaps the original RTB1 form?

Thanks

[Deleted User]

csgohan4 wrote: »

Right to buy is only for tenants only, you are not a tenant. If you have nothing in writing about sharing the RTB you do not have it.


Who told you can share the RTB? did you have it in writing?


Even if you were on the tenancy, your mortgage options would be limited by your mother's age

A family member who has been living with the tenant in the 12 months prior to making the application for RTB is able to make a joint application with the tenant.

sho_me_da_money

Lover_of_Lycra wrote: »

A family member who has been living with the tenant in the 12 months prior to making the application for RTB is able to make a joint application with the tenant.

Yes this is correct.

You can share the RTB with a tenant if you have been living in the same house for 12 months consecutively. This part is not the issue. The housing association has accepted the application, returned an RTB2, a S124 letter and a S125 offer letter. The eligibility of my application is not in question.

The issue is the lender. We are trying to get a joint mortgage and the application has progressed quite far however, the lender is now asking for my name on the documentation. I am not sure if the housing association can add my name on the documentation since I am not a tenant BUT i have been approved to purchase the property as a 'family member'. So technically, they should have no issue getting my name added.

The only time my name and signatures were required were on the RTB1 form where I am telling the council that the tenant wishes to exercise their right to buy and I am the family member that wishes to share. They did all the background checks on me and approved it.

Trying to see how I can satisfy the lender in this regard. Surely I can prove that I am sharing the RTB. Perhaps a copy of the original RTB1 form?

[Deleted User]

Just ask the lender if there is any other documents that they will accept and/or ask the HA to resend the letter but this time addressing it to you and your mother.

ACG

As far as I am aware, they will need that letter in joint names but as suggested above, you need to ask the people who make that decision (the lender).

sho_me_da_money

On it! Thank you ladies and gents.

csgohan4

Lover_of_Lycra wrote: »

A family member who has been living with the tenant in the 12 months prior to making the application for RTB is able to make a joint application with the tenant.

I stand corrected

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