Buying my parents council house

belbridge3

Hi,
Can anyone advise me if it is possible for me to buy my parents council house? I've lived there all my life and there is no chance of me getting married etc and moving out. I can't afford to rent a property on my own and was turned down for a mortgage before. I have a new job and saved very hard to gather up a small deposit recently. I know a lot of people go on about repairs etc but to be fair in the 30 years I've lived here all we have had done was a new kitchen 15/20 years ago and gas heating put in about 5 years ago. We have the same doors, bathroom etc as when my parents moved in 35years ago. My parents are in their 60s so they probably wont get a mortgage on their own that's why I was thinking of helping them to buy. Any help will be grateful.

Fosterdog

What will you do if your parents need care as they get older or need to move into an adapted home but you have taken away their chance of a secure home. If very little maintenance has been done in the last 30 years then there is more chance of works needing doing sooner rather than later.

AdrianC

Your parents have the right to buy it.
You may or may not have the right to buy it.

That doesn't mean you have a right to make somebody lend you sufficient money to buy it.

Nor does it mean it's wise to buy it... If you "can't afford" to rent a property, then it would almost certainly be a very unwise thing to do.

diggingdude

I've missed these posts

Owain_Moneysaver

Why would your parents want to buy?
They've got a secure tenancy, at below market rents, with all (necessary) repairs and maintenance, and Housing Benefit will pay the rent if they ever can't. 
If you live there, get your name added to the tenancy if you can, and then you will have the same benefits. 

HampshireH

If you could. Which is unlikely as its their house not yours unless they buy too, how would you pay for it if you can't afford rent and got turned down for a mortgage?

Anything with so few repairs will require them in due course.

lincroft1710

belbridge3 said:
all we have had done was a new kitchen 15/20 years ago. We have the same doors, bathroom etc as when my parents moved in 35years ago. 

So it's all due for replacing.

macman

Basics: are you named on the tenancy agreement?

bucksbloke

belbridge3 said:

My parents are in their 60s so they probably wont get a mortgage on their own that's why I was thinking of helping them to buy. Any help will be grateful.

However, you'll only be too happy to help out as long as you own the property which was built at the taxpayer's expense?

belbridge3

Owain_Moneysaver said:

Why would your parents want to buy?
They've got a secure tenancy, at below market rents, with all (necessary) repairs and maintenance, and Housing Benefit will pay the rent if they ever can't. 
If you live there, get your name added to the tenancy if you can, and then you will have the same benefits. 

They were just working out sums the other night. Between now and when they retire we would be paying 40k in rent. They will get 24k discount as they have lived at the property so long. Along with my deposit the house would be bought for less money than they would be paying for rent. As I said it was just an idea of theirs I dont know the pros/cons of it.

belbridge3

lincroft1710 said:

belbridge3 said:
all we have had done was a new kitchen 15/20 years ago. We have the same doors, bathroom etc as when my parents moved in 35years ago. 

So it's all due for replacing.

We were getting a new bathroom just before covid hit. It will be getting put in at the end of the month. We are paying for it ourselves as the council does nothing round our way. We put a fence at the front and back of property as they also refused that. All external painting, cleaning of gutters etc we do ourselves.