Advice On Buying a Council House

dmg24

OP,

How do your parents expect to get a mortgage if they have no income?

Zammo

I really do despair of this country.

woody_56

Expand on that one Zammo.

sho_me_da_money

So how do i go about this?

I mean someone mentioned how they could get a mortgage if they dont have an income.

The issue is i have the money, but they are entitled to the discount, so the mortgage really has to be in their name.

Maybe i can pay them and they can then use that money for the house???

Not sure...HELP!

dmg24

If you have no income, you cannot get a mortgage (or at least not without committing fraud).

poppy_f1

dmg24 wrote: »

If you have no income, you cannot get a mortgage (or at least not without committing fraud).

assuming they are on some kind of benefits plus any rent money the OP is paying then it could be possible

dmg24

poppy_f1 wrote: »

assuming they are on some kind of benefits plus any rent money the OP is paying then it could be possible

I mean someone mentioned how they could get a mortgage if they dont have an income.

The OP said they don't have an income.

sho_me_da_money

What is my first step then, do i need a broker or something?

Im a young newb to all this, so im hoping some of you guys can point in what direction to take

dmg24

OK, what is your parents income (do they have anything coming in)?

How much is the house available to them for?

sho_me_da_money

No idea.

Ok here's the dealio -

They are entitled to have 26K knocked off i think.

They charge me no rent and they have benefits coming in.

I will be the person paying so if they want to pose as people who are taking rent of me, then fine.

My gran passed away and we are expected to move into her house.

It would be silly for them to miss out on an opportunity with this house. If they go for it under the right to buy scheme then they cannot sell/rent for min of 3 years.

Im hoping to sell it in 3 years anyways.

Now do i need to go to a broker or someone?

I have no idea on how to buy a council property in the correct way. I was told that its not exactly like buying a non-council property. There are people i can use and approach.

So what do you suggest>?