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Inheritance while a council tenant

mmfmm
Posts: 3 Newbie

I’m a single mother who works but is topped up by universal credit. I also live in a council house.
I recently Discovered I’ve been left an inheritance, which isn’t near enough to Buy a home or buy my Council house even with the discount, but it is still a sizeable amount of money.
I recently Discovered I’ve been left an inheritance, which isn’t near enough to Buy a home or buy my Council house even with the discount, but it is still a sizeable amount of money.
While I’m waiting for solicitors etc, I’ve been weighing up my options. I’d like to buy a property, far away as that’s all I can afford, to rent out and have a long term income.
My question is whether I am allowed to keep my council home (secure tenancy) even though I Would then own a home elsewhere. (I would of course come off universal credit before anybody assumes otherwise, a quick search has shown that the rental income would match what I was getting from universal - perfect) I’m just worried that the council will tell me I have to leave my council home if I become a homeowner, but I really can’t move out Far away from my disabled mother.
I queried this all with my housing officer but he didn’t really give much of an answer other than for me to get legal advice?!
I queried this all with my housing officer but he didn’t really give much of an answer other than for me to get legal advice?!
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Comments
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Run gov.uk benefits calculator to see what benefits your are still entitled to. Some aren't affected by savings or inheritance.
Artful: Money in bank, in receipt of 6 benefits, all legitimate (old). Not fair I know.
Good luck, some good news for you!1 -
No, a secure tenancy isn't adversely affected by you becoming the owner of other property.Though I suspect others would query whether becoming a landlord is really as attractive an investment choice as you seem to think - what happens when the rental income dries up for months on end (as has happened to many landlords this year of course), or expensive repairs need to be done? Not so bad if you've got significant other income or capital to fall back on, but it doesn't sound like you do.3
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No, you cannot lose a council tenancy because you have come into assets.
If it's enough to buy, just not in your current area, and you don't want to move away from your mother... then can't you move with your mother...?
You really need to think if starting a residential lettings business is the best way to invest your inherited windfall.
Can you give us an indication of the amount, and what/where you were thinking of buying?
What the rental income would be (presumably, less the management fee, since you won't be self-managing), what you think the outgoings would be, how you plan on covering large bills, bad debts and voids if they come simultaneously...?
Honestly, I think the answer is that you'll be best asking over here -> https://forums.moneysavingexpert.com/categories/savings-investments0 -
So if you own a property you can still have social housing too? That doesn't seem right.1
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gomer said:So if you own a property you can still have social housing too? That doesn't seem right.1
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gomer said:So if you own a property you can still have social housing too? That doesn't seem right.
As an example;
https://www.landlordtoday.co.uk/breaking-news/2020/1/council-tenant-who-owns-three-btl-properties-ordered-to-pay-almost-90k
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unkle said:gomer said:So if you own a property you can still have social housing too? That doesn't seem right.
As an example;
https://www.landlordtoday.co.uk/breaking-news/2020/1/council-tenant-who-owns-three-btl-properties-ordered-to-pay-almost-90k2 -
davidmcn said:gomer said:So if you own a property you can still have social housing too? That doesn't seem right.0
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gomer said:So if you own a property you can still have social housing too? That doesn't seem right.
But you'll note the wording I used...AdrianC said:
I didn't mention another property. Deliberately.
No, you cannot lose a council tenancy because you have come into assets.
What I can't find anywhere is what the tenant in that article was actually charged with - all the coverage uses very similar wording, and seems to be a rehash of the council's press release - but it would appear to be fraud in relation to the RtB application.0 -
mmfmm said:I’m a single mother who works but is topped up by universal credit. I also live in a council house.
I recently Discovered I’ve been left an inheritance, which isn’t near enough to Buy a home or buy my Council house even with the discount, but it is still a sizeable amount of money.While I’m waiting for solicitors etc, I’ve been weighing up my options. I’d like to buy a property, far away as that’s all I can afford, to rent out and have a long term income.My question is whether I am allowed to keep my council home (secure tenancy) even though I Would then own a home elsewhere. (I would of course come off universal credit before anybody assumes otherwise, a quick search has shown that the rental income would match what I was getting from universal - perfect) I’m just worried that the council will tell me I have to leave my council home if I become a homeowner, but I really can’t move out Far away from my disabled mother.
I queried this all with my housing officer but he didn’t really give much of an answer other than for me to get legal advice?!As its not much money, you'll be remote and have to pay an agent, and by the sound of it woudl be struggling to pay any major bills, lets say new boiler, roof, house damaged, tenant doesn't pay rent and cant be evicted for the next 18 months or so , this is likely a bad idea .And there's a whole host of costs that go along with being a property owner you likely haven't encountered yet as you aren't currently paying them. And being remote, they will be higher.Leaking tap in your council house, council fixes.Leaking tap in your own house, go to B&Q new washer or cartridge, fix yourself or friend does, £1-£20.Leaking tap in a house miles away from you, plumber call out plus agency fees for managing, £100.Can you post your calculations for outgoings, incomings, tax and state what you think your income will be.3
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