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want to buy parents council house

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Comments

  • AskAsk
    AskAsk Posts: 3,048 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    you won't be able to buy the house.  they will have to buy the house.
  • Caz3121
    Caz3121 Posts: 15,841 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 24 August 2020 at 9:07PM
    AskAsk said:
    you won't be able to buy the house.  they will have to buy the house.
    incorrect as confirmed in earlier post and confirmed here https://www.gov.uk/right-to-buy-buying-your-council-home
    as long as OP has lived there over 12 months they can be part of joint application

    Joint applications

    You can make a joint application with:

    • someone who shares your tenancy
    • up to 3 family members who’ve lived with you for the past 12 months (even if they do not share your tenancy)
  • HampshireH
    HampshireH Posts: 4,957 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    edited 24 August 2020 at 9:42PM
    OP

    You can buy the property with your parents providing they genuinely have a RTB and they will be on the deeds & you can prove residency.

    I'm not really sure I can see any benefits for them.

    The pitfalls though;

    * automatic stop on all repairs 
    * parents & you responsible financially for all adaptations and repairs going forward 
    * full responsibility for all insurances which they dont have to pay now.
    * mortgage? Are they within the age range to get a mortgage or will they be paying cash? Can you get a mortgage or are you paying cash

    Pitfalls for you

    * stamp duty if you buy again.
    * if you put money in you be able to easily get it back if you decide you need it.
    * living with your parents? How old are you? No intention for a relationship or anything?






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