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Buying a house for elderly parent

Hi, my elderly mother has been renting for a number of years and unfortunately the landlord is selling the house so she has to move. I am looking at buying a cheapish house/flat and renting it back to her to give her some security whilst enabling me to make some equity on the property along the way. I don't intend on making any profit from her. Does anyone here know things I may need to consider should I decide to do this? Many thanks

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  • Caz3121
    Caz3121 Posts: 15,514
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    will you be a cash purchaser or require a mortgage?
    additional SDLT
    all the landlord responsibilities
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 4,129
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    Also does she claim any means tested benefits? Renting from a close family member is a no no in those circumstances.

    Saying she has to move has the landlord gone through the correct procedures? Only a court can evict her.
    If you go down to the woods today you better not go alone.
  • Albermarle
    Albermarle Posts: 21,207
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    Hi, my elderly mother has been renting for a number of years and unfortunately the landlord is selling the house so she has to move. I am looking at buying a cheapish house/flat and renting it back to her to give her some security whilst enabling me to make some equity on the property along the way. I don't intend on making any profit from her. Does anyone here know things I may need to consider should I decide to do this? Many thanks
    From a care/peace of mind perspective, you might want to look at specific retirement properties where there is a warden/help on hand in case of problems.
    However these properties tend not to increase in price in line with the market, and often decrease.
  • RAS
    RAS Posts: 32,468
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    edited 5 January at 11:31AM
    Check out over 55 providers in the area, or even your area. It's very variable but possible. 

    Someone one I know found themselves at risk of homelessness when their own mother went into care and they didn't meet the exemption. Another family member checked the requirements for over 55 accommodation local to them and because the family member had a close connection in their own locality, they were able to bid for a flat for the person facing homelessness, with a secure tenancy. It meant an unexpected relocation but it's made a huge difference and they are somewhere they prefer to their mother's place.
    The person who has not made a mistake, has made nothing
  • Hi, my elderly mother has been renting for a number of years and unfortunately the landlord is selling the house so she has to move. I am looking at buying a cheapish house/flat and renting it back to her to give her some security whilst enabling me to make some equity on the property along the way. I don't intend on making any profit from her. Does anyone here know things I may need to consider should I decide to do this? Many thanks
    You might not intend to make a profit but HMRC might decide otherwise if you’re letting a property at below the market rate to a connected person. 

    If your mum requires benefits to cover the rent the council might declare it a contrived tenancy. 

    Has your mum considered applying for over 55’s accommodation from the council? 
  • theartfullodger
    theartfullodger Posts: 14,381
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    edited 5 January at 12:42PM
    Landlord selling property does not mean tenant must leave   .Only a court the bailiffs can do that.

    Has she been served any valid notice? Checked it's valid?

    Is she on local council housing waiting list?  They may have properties reserved for elderly. (I'm 76)
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