Advice On Buying a Council House

sho_me_da_money

Hello there,

My parents have been living in a council property for a long time and they are entitled to a pretty good discount under the "right to buy" scheme.

Neither are working so they have suggested that i buy the place.

Now i am not entitled to this discount so the best way this can work, is if my parents buy it and i make the payments for the mortgage.

Given the info above, can someone guide me on the best way to carry this out please?

I remember someone telling me to contact the IFC or something first and getting a list of info from them.

I just need an idiots guide on how we can buy the house and make the best savings possilble.

Thank you in advance.

dolce_vita

In other words, you want to know how to buy a cheap house at the taxpayers expense and deprive someone in need of a home?

sho_me_da_money

Why do you have to assume anything at all?

No is the short answer.

I live with my parents and they want to buy the house but they have no income so i will do that for them. They are legally entitled to buy the house just like anyone buying any non-council property.

And just like anyone buying anthing, they want it the cheapest way possible rather than getting ripped off.

We are all still going to live in the house but rather than paying the council rent, we want to own it under the "Right to Buy" scheme.

So can anyone explain, what the best way to do this is.

Forgive me but the last time i checked this was MoneySavingExpert and all i want to do is exactly that - save money.

So anyone else, care to help please?

woody_56

Hi i have bought three council properties,my own , my fathers, my mother in laws,they both live rent free in those properties,they are obviously willed to my wife and i,its our pension.I bought these properties some 15 years ago so the discounts were really good then,i was lucky to have bought them for cash which i gave to them, they bought them and willed them to us.I don't no your parents age,and if they are still working,as a mortgage if they are not working can be difficult.

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SERVICE CHARGES CAN BE EXCESSIVE ON BUILDING MANTINENCE-OUTSIDE DECORATION-DOUBLE GLAZING ETC--AS I HAVE FOUND

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BUT THE INCREASE IN PROPERTY PRICES FAR OUTWAYS THIS IN THE LONG RUN,PLUS THE DISCOUNT YOU WILL RECIEVE--There is a lot to consider see whats been done already to the property building wise ,the age of your parents,if after the hold period you are considering selling the property,and if it will sell easily,

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if you buy,have a word with a good solicitor,or nieghbour who has bought get their views. jim

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and take no notice of the last poster dolce vita--they have tunnel vision.

Generali

I'd go to see a whole of market mortgage broker personally.

dolce_vita

woody_56 wrote: »

Hi i have bought three council properties,my own , my fathers, my mother in laws,they both live rent free in those properties,they are obviously willed to my wife and i,its our pension.I bought these properties some 15 years ago so the discounts were really good then,i was lucky to have bought them for cash which i gave to them, they bought them and willed them to us.

Gosh. You are so clever.

Building such an empire from scratch.

I wish all my family had lived in council houses. I could have bought all my properties for half what I paid.

But like they say, you can't choose your family.

sho_me_da_money

Cheers guys except for Dolce Vita.

Woody, i dropped you a PM - did you get it?

woody_56

Nothing clever about it,i worked for 20 years on the old Metropolitan Water Board and had to retire with a back injury,i then worked for 15 years on the highways with a london authority,and had to retire again with ill health,no one has given me nothing i have'nt worked for,i just used my money instead of investing or blowing it,so im not clever at all,i have been lucky with the rise in property prices,but have done nothing ,that thousands and thousands of others have'nt done as well --its just using what money we have to our advantage .

woody_56

Sorry whats a pm jim

dolce_vita

Happy Christmas to you all.

Running_Horse

sho_me_da_money wrote: »

i am not entitled to this discount

Merry Christmas one and all.