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Helping elderly parents moving back to the UK-advice needed
Comments
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The issue they may have with getting on social housing waiting lists for an older person’s property is whether there is a need for a local connection. Which could rule out anywhere except where they already have close family.
There possibly needs to be a little managing of expectations with regards to what they can afford and where.Bottom line though, if you do buy for them and they stop paying for any reason, can you afford to carry them? Because if not you’d be looking at eviction. Whatever the plan, you must all consider worst case scenarios.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.1 -
Couldn’t they just pay cash for a quarter of a shared ownership property ? They can’t be kicked out they can decorate and there “rent” should be stable rather than whatever the market decides it can charge every month ?2
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Considering that they have been outside the UK for 15 years, would there be a residency qualification to be met for social housing?elsien said:The issue they may have with getting on social housing waiting lists for an older person’s property is whether there is a need for a local connection. Which could rule out anywhere except where they already have close family.
There possibly needs to be a little managing of expectations with regards to what they can afford and where.Bottom line though, if you do buy for them and they stop paying for any reason, can you afford to carry them? Because if not you’d be looking at eviction. Whatever the plan, you must all consider worst case scenarios.1 -
This now seems like the best route to me. There are plenty of nice looking new shared ownership properties for £200k or less for example and a 25% share should be doable. There was a scheme until very recently called older people shared ownership but it looks like that’s been absorbed into the wider shared ownership scheme.Gycraig said:Couldn’t they just pay cash for a quarter of a shared ownership property ? They can’t be kicked out they can decorate and there “rent” should be stable rather than whatever the market decides it can charge every month ?They still have U.K. bank accounts and hopefully therefore can apply for what might be a very small mortgage if needed.0
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