We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Can I rent out my council flat?
m11g30
Posts: 2 Newbie
I have been living in my council flat for nearly 4 years and I am wanting to purchase it through right to buy, however in the near future myself and partner (who is not on the tenancy) want to buy a house together. If I buy my flat would I then be able to rent it out? I cant find any terms and conditions anywhere regarding buying a council property. I dont want to buy the flat and then be unable to rent it out, if I were to buy a house.
0
Comments
-
There’s nothing under the RTB rules that prevent you from letting the property.m11g30 said:I have been living in my council flat for nearly 4 years and I am wanting to purchase it through right to buy, however in the near future myself and partner (who is not on the tenancy) want to buy a house together. If I buy my flat would I then be able to rent it out? I cant find any terms and conditions anywhere regarding buying a council property. I dont want to buy the flat and then be unable to rent it out, if I were to buy a house.1 -
Will you have a mortgage on it?2024 wins: *must start comping again!*0
-
Yes I'll be getting a mortgage on it, as we want to remain living here but unsure for how long. As it's such a huge financial purchase I just dont want to buy it it then we end up wanting to move and not be able to rent it out, as I know I'm unable to sell within 5 years without resulting in a hefty payback percentage to the council.
0 -
Which is why RTB is a terrible scheme.Lover_of_Lycra said:
There’s nothing under the RTB rules that prevent you from letting the property.m11g30 said:I have been living in my council flat for nearly 4 years and I am wanting to purchase it through right to buy, however in the near future myself and partner (who is not on the tenancy) want to buy a house together. If I buy my flat would I then be able to rent it out? I cant find any terms and conditions anywhere regarding buying a council property. I dont want to buy the flat and then be unable to rent it out, if I were to buy a house.11 -
If your long term view is to buy a house elsewhere why not just start saving to do that rather than deprive someone else in desperate need of social housing. Obviously your situation has improved, which is brilliant but perhaps there's someone who's been waiting years for somewhere to live just as you did.
If you would be buying your flat to rent it out, it might be an idea to look into what goes into renting a place out so you know what you are getting into. And also ask yourself, if you were running two mortgages but a tenant defaulted, would you be able to pay the two mortgages. If you were buying it, but had to pay part of the discount back if you decided to sell, would it be worth buying it (lots of hassle).6 -
Don’t hate the player. Hate the game.craig1123 said:
Which is why RTB is a terrible scheme.Lover_of_Lycra said:
There’s nothing under the RTB rules that prevent you from letting the property.m11g30 said:I have been living in my council flat for nearly 4 years and I am wanting to purchase it through right to buy, however in the near future myself and partner (who is not on the tenancy) want to buy a house together. If I buy my flat would I then be able to rent it out? I cant find any terms and conditions anywhere regarding buying a council property. I dont want to buy the flat and then be unable to rent it out, if I were to buy a house.1 -
Bear in mind that if you buy it, and then buy and live in another property elsewhere then you will be subject to CGT on any potential gain when you come to sell it.
And your gain will be much higher than would otherwise be the case, because of the substantial RTB discount you have benefited from.No free lunch, and no free laptop
1 -
Your lender could refuse to grant you CTL - or more likely BTL as it sounds like it would be a permanent arrangement. So you'd have to remortgage after whatever deal you're on ends and pay any fees, or pay whatever charges to get out early. A BTL mortgage would cost you more and you'd prob need 25% deposit for the BTL mortgage (presumably of the property's future value).2024 wins: *must start comping again!*0
-
Post 7: New landlords (1):advice & information :see links in next post
Post 8: New landlords (2): Essential links for further information
0 -
OP - you really will not get sympathy on here for buying a council house at a discount and then flipping it and letting it whilst you buy another on the open market. The scheme was not designed for that and I do wish the loophole that allows rentals in these circumstances was closed6
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards