Right to buy Help needed

Papermonkey

Hello

I am In need of some help regarding benefits and the right to buy scheme.

I am eligible for the right to buy the council bungalow i currently live in.

I am on the disability benefits ESA and PIP and have lived in this property alone for the last 5

years. My brother is in a position to buy the property out right for me
without the need for a mortgage but I would be the only owner not himself. Would he
need to pay any substantial tax if he bought the property out right for
me? I would be the sole owner of the property. The
value of the right to buy property is around 100k before any

government deduction. It will be around 60-70k with deduction.

I have posted about the technicalities of buying a place on this forum going back a few years but nothing was finalised and it is slightly different circumstances now as this is a right to buy.

I have been told by other forum posters recently that it may be best to have my brother gift me the money and I then buy the property but would this impact my benefits?

Many thanks for your time

marcia_

 Generally best to keep to one thread 

https://forums.moneysavingexpert.com/discussion/6395676/right-to-buy-help-needed#latest

 

poppy12345

If he gifted you the money then if any part of your ESA is Income Related then this will end because you will have savings of more than £16,000. If you're claiming council tax reduction this will also end. If you're claiming housing benefit then this also ends.

If any part of your ESA is contributions based this will continue. PIP isn't affected. If you will need to pay rent to your brother for living there then you won't be able to claim for help with any rent. If you won't be paying rent, if any repairs are needed to the house, how will you fund that?

Your other thread coming up to 3 years ago has some good advice. Although it was quite some time ago the replies are still relevant now.