We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
help needed!!
Slapps
Posts: 654 Forumite
just a quick question so i hope i've posted it in the right place. if not then please feel free to move it.
my mum brought her council house out right about 5 years ago and is now offering to help me and my family to buy our council house. thing is she is not working due to ill health, i have a ccj and my partner has only been working for the last 2 months. any help on our options would be greatful.
my mum brought her council house out right about 5 years ago and is now offering to help me and my family to buy our council house. thing is she is not working due to ill health, i have a ccj and my partner has only been working for the last 2 months. any help on our options would be greatful.
1st son born 11/02/05 2nd son born 09/01/08
thats all i'm adding to the human race so think yourselfs lucky lol
thats all i'm adding to the human race so think yourselfs lucky lol
0
Comments
-
how much was ccj and when did you get it and when was it satisfied?
How much do you earn - how much did you need to borrowI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
i think it was for just under 3 grand, got it before 2004 i think and i'm not sure if it was satisfied. i don't earn anything as i'm a single parent on benefits tho of course i would lose these if we brought my house as then my partner would be living with me.
we are looking to borrow about 50 grand and my mum's house is worth about 110 grand.
p.s hit your thanks button for your quick reply1st son born 11/02/05 2nd son born 09/01/08
thats all i'm adding to the human race so think yourselfs lucky lol0 -
Your CCJ will only be satisfied if you have repaid it.
So, to clarify, you are looking to buy your council home with you and your partner being the owners? Its a while since I have done a right to buy but would your partner be allowed to buy if he has not officially been there.
If you are not earning, then what tax credits do you get and how much do they come to over a year?
If it could be worked, which is very questionable at the moment, your ccj would mean interest rates of 8%+I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
As Homer says you probably won't be able to get a mortgage and your partner has no right to buy, so I'm sorry it doesn't seem a likely proposition.0
-
is there anyway my mum can get a remortgage or loan on the back of her home 2 help us do this?1st son born 11/02/05 2nd son born 09/01/08
thats all i'm adding to the human race so think yourselfs lucky lol0 -
It seems unlikely unless she has enough equity in her house to borrow the money you need,also you say she isn't working which would be a major stumbling block.
I think you need to put this on hold for the time being , get yourself earning then you and your partner could take out a mortgage and exercise your right to buy then.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards