Options to help mother move

wilfred30

Even given the fact that you're looking at a better area, I still don't see how a 1 bed bungalow could cost more than double the value of her 3 bed house?

Also, have you considered a 1 bed ground floor flat with garden?

Mardle

sghughes42 said:

wilfred30 said:

Presumably, the problem is the fact that the bathroom is on a different floor to her bedroom.

Got it in one - thought that would be obvious but maybe not! Getting up in the middle of the night etc isn't great, especially with steep stairs.

If her current house is unsuitable for her she may be eligible to apply for an over 55's HA property. 

boots_babe

sghughes42 said:

boots_babe said:

We did similar to help my parents 4 or 5 years back. We didn't want to be hit with an additional stamp duty fee for a second property, but wanted to help them to purchase somewhere nearer to where we live (they were 3 hours drive away) so that we could look after them when needed. After taking legal advice, we went down the route of a Declaration of Trust. This enabled my parents to be the owners at the Land Registry, but the Declaration is registered such that when the property is sold, we effectively have a first charge on the property for 1/3 of the value, and will get the monies back.

Good luck.

Sounds interesting. Can I ask, did you help in the form of being on a mortgage, or were you able to loan them the money?

Hi,

My parents didn't have a mortgage, they sold their old house and used that cash to put towards their side of the purchase. Our part of the money just came from cash savings, so no lenders involved. 

It was very easy to do, you can have the agreement drawn up in various ways which our solicitor discussed with us - either X % share, or £X share, or as we did which was a minimum of £X share (the amount we put in) OR 33%, whichever is the greater. That way our capital is protected, but we also get any of the gain in house prices over the next 20 odd year (hopefully it'll be that long!).

xylophone

We had a brief look at options to rent, the main issue is as a home owner she'd be at the back of any waiting list

Have you looked specifically at schemes for older people? There might be one near your sister?

https://forums.moneysavingexpert.com/discussion/comment/78053534/#Comment_78053534

https://forums.moneysavingexpert.com/discussion/comment/78053555/#Comment_78053555

https://forums.moneysavingexpert.com/discussion/comment/78053535/#Comment_78053535

spaghettibolognese

dimbo61 said:

Can you not look at over 55 sheltered housing developments in an area she likes or near you ?
Mum could sell her home and the whole family could help Mum find a new apartment and move her in.
My Dad did this 16 years ago and has enjoyed living in a small property with a group of other residents over 55.
No maintenance to worry about, easier to keep clean and tidy, all on one level.
On site warden and only rent to worry about.
Mum can enjoy her money and have lots of holidays, run a car, treat the grandkids

Was there a long waiting list to get into sheltered housing/accommodation for your Dad?