Any point buying a council house if rent is free and you're long term disabled

propertyrental

No good reasons to buy.

Lots of good reasons to not buy.

Bookworm105

how will your life improve if you buy the flat?
what do you think being a homeowner will give you?

Chavez2012

I could sell and move up the ladder with the equity

Emmia

Chavez2012 said:

I could sell and move up the ladder with the equity

That requires getting a mortgage - you can't usually move UP the ladder without more borrowing.

Servicing a mortgage requires you to have an income, which for most people means they have/need a job. But you have a health condition which prevents you from working ever again...

If you can work to service a mortgage, then you can (and should) work to support yourself rather than relying on the tax payer.

SarahB16

Mildreds_Earrings said:

Agree with @Jude57 that in your circumstances, I wouldn't recommend it. 

You appear to be looking at the mortgage only but even if you have a large deposit, as you've been out of work, there is no guarantee you'll get a mortgage and at 49 years, once you reach 50 years, it's even harder to get a mortgage.

As a leaseholder in social housing, you will be obligated to pay towards repairs and maintenance of the whole block and if any major works are planned, you will have to pay thousands of pounds towards that.

Also consider the resale value, do many flats in your block sell? I work for a social housing provider and we often end up buying the property back from the former tenant and we don't pay the market price. It's rather unfortunate but when leaseholders see the major works invoice and that they cannot afford to pay it, they practically beg us to purchase it back, which we only will do if it benefits us, and we will not pay the market price. 

Ask your Council or Housing Association if you can have a draft copy of the lease to find out your obligations as a leaseholder and ask them if any major works are planned on your building in the next five years and can they share the anticipated costs per leaseholder, with you. 

All the best. 

May I ask @Mildreds_Earrings do social housing providers inform prospective purchasers of this obligation?  I replied a couple of days ago on another thread highlighting this obligation/risk and I'm genuinely interested to hear whether social housing providers do enough in terms sharing to the prospective purchaser this obligation?

I know a prospective purchaser should appoint their own solicitor but I do wonder how clearly social housing providers highlight this future obligation?  

Would be grateful to hear your thoughts and I believe there is to be a greater focus again on consumer standards within the social housing sector (not sure if it will be how it was in 2010 though).  

Emmia

SarahB16 said:

Mildreds_Earrings said:

Agree with @Jude57 that in your circumstances, I wouldn't recommend it. 

You appear to be looking at the mortgage only but even if you have a large deposit, as you've been out of work, there is no guarantee you'll get a mortgage and at 49 years, once you reach 50 years, it's even harder to get a mortgage.

As a leaseholder in social housing, you will be obligated to pay towards repairs and maintenance of the whole block and if any major works are planned, you will have to pay thousands of pounds towards that.

Also consider the resale value, do many flats in your block sell? I work for a social housing provider and we often end up buying the property back from the former tenant and we don't pay the market price. It's rather unfortunate but when leaseholders see the major works invoice and that they cannot afford to pay it, they practically beg us to purchase it back, which we only will do if it benefits us, and we will not pay the market price. 

Ask your Council or Housing Association if you can have a draft copy of the lease to find out your obligations as a leaseholder and ask them if any major works are planned on your building in the next five years and can they share the anticipated costs per leaseholder, with you. 

All the best. 

May I ask @Mildreds_Earrings do social housing providers inform prospective purchasers of this obligation?  I replied a couple of days ago on another thread highlighting this obligation/risk and I'm genuinely interested to hear whether social housing providers do enough in terms sharing to the prospective purchaser this obligation?

I know a prospective purchaser should appoint their own solicitor but I do wonder how clearly social housing providers highlight this future obligation?  

Would be grateful to hear your thoughts and I believe there is to be a greater focus again on consumer standards within the social housing sector (not sure if it will be how it was in 2010 though).  

The obligation to pay for communal repairs isn't confined to social housing, it's part and parcel of being a leaseholder, even in blocks of flats etc. which have no social housing element.

As a result I wouldn't expect a housing association to make people specifically aware of this.

silvercar

Emmia said:

SarahB16 said:

Mildreds_Earrings said:

Agree with @Jude57 that in your circumstances, I wouldn't recommend it. 

You appear to be looking at the mortgage only but even if you have a large deposit, as you've been out of work, there is no guarantee you'll get a mortgage and at 49 years, once you reach 50 years, it's even harder to get a mortgage.

As a leaseholder in social housing, you will be obligated to pay towards repairs and maintenance of the whole block and if any major works are planned, you will have to pay thousands of pounds towards that.

Also consider the resale value, do many flats in your block sell? I work for a social housing provider and we often end up buying the property back from the former tenant and we don't pay the market price. It's rather unfortunate but when leaseholders see the major works invoice and that they cannot afford to pay it, they practically beg us to purchase it back, which we only will do if it benefits us, and we will not pay the market price. 

Ask your Council or Housing Association if you can have a draft copy of the lease to find out your obligations as a leaseholder and ask them if any major works are planned on your building in the next five years and can they share the anticipated costs per leaseholder, with you. 

All the best. 

May I ask @Mildreds_Earrings do social housing providers inform prospective purchasers of this obligation?  I replied a couple of days ago on another thread highlighting this obligation/risk and I'm genuinely interested to hear whether social housing providers do enough in terms sharing to the prospective purchaser this obligation?

I know a prospective purchaser should appoint their own solicitor but I do wonder how clearly social housing providers highlight this future obligation?  

Would be grateful to hear your thoughts and I believe there is to be a greater focus again on consumer standards within the social housing sector (not sure if it will be how it was in 2010 though).  

The obligation to pay for communal repairs isn't confined to social housing, it's part and parcel of being a leaseholder, even in blocks of flats etc. which have no social housing element.

As a result I wouldn't expect a housing association to make people specifically aware of this.

I agree. But specifically, the downside of a council owned flat is that the council could decided to improve the block and surrounds and the leaseholders within the block could face hefty bills for their share. 

Emmia

silvercar said:

Emmia said:

SarahB16 said:

Mildreds_Earrings said:

Agree with @Jude57 that in your circumstances, I wouldn't recommend it. 

You appear to be looking at the mortgage only but even if you have a large deposit, as you've been out of work, there is no guarantee you'll get a mortgage and at 49 years, once you reach 50 years, it's even harder to get a mortgage.

As a leaseholder in social housing, you will be obligated to pay towards repairs and maintenance of the whole block and if any major works are planned, you will have to pay thousands of pounds towards that.

Also consider the resale value, do many flats in your block sell? I work for a social housing provider and we often end up buying the property back from the former tenant and we don't pay the market price. It's rather unfortunate but when leaseholders see the major works invoice and that they cannot afford to pay it, they practically beg us to purchase it back, which we only will do if it benefits us, and we will not pay the market price. 

Ask your Council or Housing Association if you can have a draft copy of the lease to find out your obligations as a leaseholder and ask them if any major works are planned on your building in the next five years and can they share the anticipated costs per leaseholder, with you. 

All the best. 

May I ask @Mildreds_Earrings do social housing providers inform prospective purchasers of this obligation?  I replied a couple of days ago on another thread highlighting this obligation/risk and I'm genuinely interested to hear whether social housing providers do enough in terms sharing to the prospective purchaser this obligation?

I know a prospective purchaser should appoint their own solicitor but I do wonder how clearly social housing providers highlight this future obligation?  

Would be grateful to hear your thoughts and I believe there is to be a greater focus again on consumer standards within the social housing sector (not sure if it will be how it was in 2010 though).  

The obligation to pay for communal repairs isn't confined to social housing, it's part and parcel of being a leaseholder, even in blocks of flats etc. which have no social housing element.

As a result I wouldn't expect a housing association to make people specifically aware of this.

I agree. But specifically, the downside of a council owned flat is that the council could decided to improve the block and surrounds and the leaseholders within the block could face hefty bills for their share. 

This is the same issue with any freeholder, council or not. 

_Penny_Dreadful

Chavez2012 said:

I could add value by getting new doors in

I could get a job I. Permitted work

Mortgages would be buttons 

you th ink there is any point people of shpu!d I 're by until I do

If I got a job again would I has To pay rent in retirement

Adding new doors will not increase the value of the property.  Adding value to a leasehold flat is difficult as to add value you either need to make the property larger, which you won’t be able to do, or make the unmortgageable mortgageable which with leaseholds usually means paying cash for a property with a very short lease and extending it which again will not apply in your case. 

In your opening list you said you will not work again. Now you’re talking about getting a job. How realistic is that? If you get a job and then a mortgage then find yourself unable to work again due to your illness how would you service the mortgage? As a tenant you could go back to claiming the housing allowance element universal credit to cover your rent but as a mortgagee universal credit might entitle you to Support for Mortgage Interest which is a government loan rather than a benefit. 

If you’ve been working up until now then you must have been contributing towards your state pension and your employer should have auto-enrolled you in the work pension scheme. 

In your current situation I cannot see any upside in you exercising your right to buy. 

HillStreetBlues

Puzzled as to why is rent "free"?