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Housebuying - rented council properties

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Hi everyone, just after a little advice on my parents houses. They have rented all their lives, seperated, seperate houses. They both have been offered to buy their homes, from the council f…
icecreamwoman Avatar
6y, 1m agoPosted 6 years, 1 month ago
Hi everyone, just after a little advice on my parents houses.

They have rented all their lives, seperated, seperate houses.

They both have been offered to buy their homes, from the council for about 30% of the market value.

They will never have the money to buy their homes, they both do not work.

It would seem a waste for them both to pop their clogs, and the houses going into other hands.

How then, is it possible to keep the houses in the family - would the mortgages both have to be in their names?

I have a bit of money and would like to help them with buying.

Anyone had a similar situation?

Thanks all
icecreamwoman Avatar
6y, 1m agoPosted 6 years, 1 month ago
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banned 5 Likes #1
Why would it be a waste for the houses to be returned back to the council for some other deserving people? The waiting lists are huge.

If they dont work, then you would have to pay the entire 30% up front yourself or use their savings if they have any.
2 Likes #2
Gosh you're brave X)

Popcorn anyone ?

Edited By: fungimala on Feb 12, 2011 17:48
2 Likes #3
This thread may not end well!!
#4
i believe it can only be their names on the mortgage and if they leave it to you you will pay the full tax on them...still a good deal I'm sure...
#5
csiman
Why would it be a waste for the houses to be returned back to the council for some other deserving people? The waiting lists are huge.

If they dont work, then you would have to pay the entire 30% up front yourself or use their savings if they have any.


True but councils these days are trying to sell of all of their properties. They are trying to shift the housing responsibilties over to private housing assoc. where ever possible
#6
Aren't there special mortgages for people in this situation? After all it will be very cheap repayments as they will be on 30% of the value.
#7
may i ask how old they are
#8
If you have a reasonable income a decent credit rating and your parents trust you, you could guarantor on their mortgages. After 5 years once the discount period has expired I'm pretty sure you could have them transferred over to you. They may struggle to get a mortgage though if they are elderly.
[mod] 1 Like #9
inb4 thread sometime in the future.................'I bought both my parents a house each and they've left them to a cat's home'
1 Like #10
I don't normally like people on the misc slagging off the OPs as usually they haven't really done anything bad, but in this situation I have to agree with other comments. It's very greedy to buy a council house. There are so many people on the waiting list. I live in a council house and when I die (I'm hoping to have been able to buy a house before then) I'd like to think that the house goes to a needy family. Yes there are some people on the housing list who don't deserve a house (like those gypsies in the news who have been housed in over 20 different houses!) but there are quite a few who do need the house.

If you decided to buy and then rent out (after the death of your parents) to those who need it at a similar price to the council rent, then I'd have the uttmost respect for you, but it doesn't seem like you've got the plan to do so.
[mod]#11
I'm glad we don't have this argument where i live............the council got rid of all it's properties years ago.
#12
Sounds like you want to have these houses as an investment for yourself - social housing is for disadvantaged people - you would remove some availability for those in need purely because you wish to make a fast buck.

Down with this sort of thing.
#13
This is the reason why there is no council houses left, people buying their parents houses just to sell them on. There will be no council houses left,It's a effin' joke !!!
#14
If they were to go in a home or need help then they may have to sell it then everyone loses
#15
so did any of your parents buy their own council house,when the opportunity arose ? mine did back in the late 80's.
[mod] 2 Likes #16
richp
so did any of your parents buy their own council house,when the opportunity arose ? mine did back in the late 80's.


No, as my parents and myself puchased off the open market but i don't blame people who did/do. However in this instance the OP is looking for future gain for themselves and not looking for a home.
#17
To be honest it should go back to the Council....the reason this country has no social housing as they let people buy them for ridiculously low prices. If your parents cant buy then they should go back to the Council...as above, your interest is financial
#18
Ps I am in private rented, costs me a FORTUNE and my friends who have council houses have loads more money than me. Thats whats unfair. I work hard to provide for my family and others get council houses at really low rents. If the houses had not all been sold when Right To Buy was introduced then there would be enough stock for everyone. Council rent is half what I pay

Edited By: bargainhunter2009 on Feb 12, 2011 19:42
#19
Don't forget, council rents are going in April for new tenants, I think it's 80% of the market value?
#20
I'm disabled and couldn't get a mortgage council wont give me a house cause i'm not a junkie so housing benefit pays the majority of my rent. So in reality the government is paying someone elses mortgage rather than giving me one of their stock.

I am disabled due to medical negligence and have recently won a medical negligence i am hoping to win enough to buy a nice house and still have loads left over but i wouldn't buy my mums house just not fair on others.
#21
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.

I really should think about other people,

Damn me
#22
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.

I really should think about other people,

Damn me


But it's not your house to make a profit on ! We all have living costs and fuel costs so if you feel the need to rape the system and **** everyone else then so be it.

You should think about buying run down properties on the market and making a profit that way seems as if thats what your wanting to do.

Edited By: munkynutz on Feb 12, 2011 19:53
#23
same as every hard working person
#24
[qruote=nanny2three]same as every hard working person[/quote] reply to 27
1 Like #25
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.

I really should think about other people,

Damn me


Your being greedy - potentially buying TWO council houses
#26
Seriously, its a hot deal, try and do it, speak to the council and I am sure they will help you.

I think it is a good thing. It opens properties up to first time buyers that generally are a lot cheaper, especially here in Manchester. A lot of these right to buy properties are still surrounded by a council estate, council properties and council tenants, they are not exactly desirable locations and have a much lower price because of this.

Most would prefer to buy on a private estate, but if that is too much for you, then there are only several options available and I think this one is a good one.

Edited By: PhearFactor on Feb 12, 2011 19:59
#27
munkynutz
I'm disabled and couldn't get a mortgage council wont give me a house cause i'm not a junkie so housing benefit pays the majority of my rent. So in reality the government is paying someone elses mortgage rather than giving me one of their stock.

I am disabled due to medical negligence and have recently won a medical negligence i am hoping to win enough to buy a nice house and still have loads left over but i wouldn't buy my mums house just not fair on others.


I'm similar to you in a way, privately renting, with housing benefit making up most of the rent which is paying someone else's mortgage. I can't do the jobs I used to because of a disability but I'd be fine behind a desk, but I have very little of that experience, which every employer wants at the moment. I'd love to be paying the rent from my own money and saving towards a place of my own, but its not happening. I've been told about a 2-4 year wait for a place with the council, so would be nice to see more places being made available. However, I can see it from the OP's point of view, my parents brought the council place with about a 50% discount and made a healthy profit a few years later when it came to selling time.
#28
moose109
munkynutz
I'm disabled and couldn't get a mortgage council wont give me a house cause i'm not a junkie so housing benefit pays the majority of my rent. So in reality the government is paying someone elses mortgage rather than giving me one of their stock.

I am disabled due to medical negligence and have recently won a medical negligence i am hoping to win enough to buy a nice house and still have loads left over but i wouldn't buy my mums house just not fair on others.


I'm similar to you in a way, privately renting, with housing benefit making up most of the rent which is paying someone else's mortgage. I can't do the jobs I used to because of a disability but I'd be fine behind a desk, but I have very little of that experience, which every employer wants at the moment. I'd love to be paying the rent from my own money and saving towards a place of my own, but its not happening. I've been told about a 2-4 year wait for a place with the council, so would be nice to see more places being made available. However, I can see it from the OP's point of view, my parents brought the council place with about a 50% discount and made a healthy profit a few years later when it came to selling time.


This country has been the same since thatchers regime The rich get richer the poor get poorer.

I do hope that I get enough money from the hospitals negligence they mucked up when i was 19 and left me disabled with a paralysed right foot since then I'm now 26. They didn't attend to me quick enough and I developed something called compartment syndrome.
[mod]#29
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.

I really should think about other people,

Damn me


Although based on average income our tax rates are amongst the lowest in the world and even our highest rate of tax is lower than several smaller and larger European countries. As for fuel rates......a car is not a necessity but a luxury and therefore you can hardly cry rape for that.

Finally living expenses are what you make them.
banned#30
PhearFactor
Seriously, its a hot deal, try and do it, speak to the council and I am sure they will help you.I think it is a good thing. It opens properties up to first time buyers that generally are a lot cheaper, especially here in Manchester. A lot of these right to buy properties are still surrounded by a council estate, council properties and council tenants, they are not exactly desirable locations and have a much lower price because of this.Most would prefer to buy on a private estate, but if that is too much for you, then there are only several options available and I think this one is a good one.

The reason I would never buy a council house in the city.
banned#31
moose109
I'm similar to you in a way, privately renting, with housing benefit making up most of the rent which is paying someone else's mortgage. I can't do the jobs I used to because of a disability but I'd be fine behind a desk, but I have very little of that experience, which every employer wants at the moment. I'd love to be paying the rent from my own money and saving towards a place of my own, but its not happening. I've been told about a 2-4 year wait for a place with the council, so would be nice to see more places being made available. However, I can see it from the OP's point of view, my parents brought the council place with about a 50% discount and made a healthy profit a few years later when it came to selling time.

Can you not do a college course in office work and then take it from there.
banned#32
Syzable
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.I really should think about other people, Damn me
Although based on average income our tax rates are amongst the lowest in the world and even our highest rate of tax is lower than several smaller and larger European countries. As for fuel rates......a car is not a necessity but a luxury and therefore you can hardly cry rape for that. Finally living expenses are what you make them.

Some people need a car for work.
1 Like #33
DLM
moose109
I'm similar to you in a way, privately renting, with housing benefit making up most of the rent which is paying someone else's mortgage. I can't do the jobs I used to because of a disability but I'd be fine behind a desk, but I have very little of that experience, which every employer wants at the moment. I'd love to be paying the rent from my own money and saving towards a place of my own, but its not happening. I've been told about a 2-4 year wait for a place with the council, so would be nice to see more places being made available. However, I can see it from the OP's point of view, my parents brought the council place with about a 50% discount and made a healthy profit a few years later when it came to selling time.


Can you not do a college course in office work and then take it from there.


I'm doing an Open Uni course, which will look good on my CV, along with voluntary work it will show that I've not been sitting about all day watching Jeremy Kyle :)
#34
whatsThePoint
munkynutz
moose109
munkynutz
I'm disabled and couldn't get a mortgage council wont give me a house cause i'm not a junkie so housing benefit pays the majority of my rent. So in reality the government is paying someone elses mortgage rather than giving me one of their stock.I am disabled due to medical negligence and have recently won a medical negligence i am hoping to win enough to buy a nice house and still have loads left over but i wouldn't buy my mums house just not fair on others.
I'm similar to you in a way, privately renting, with housing benefit making up most of the rent which is paying someone else's mortgage. I can't do the jobs I used to because of a disability but I'd be fine behind a desk, but I have very little of that experience, which every employer wants at the moment. I'd love to be paying the rent from my own money and saving towards a place of my own, but its not happening. I've been told about a 2-4 year wait for a place with the council, so would be nice to see more places being made available. However, I can see it from the OP's point of view, my parents brought the council place with about a 50% discount and made a healthy profit a few years later when it came to selling time.
This country has been the same since thatchers regime The rich get richer the poor get poorer.I do hope that I get enough money from the hospitals negligence they mucked up when i was 19 and left me disabled with a paralysed right foot since then I'm now 26. They didn't attend to me quick enough and I developed something called compartment syndrome.


I'm sure they didn't do it deliberately, what would of been the prognosis if there wasn't a free service to treat your foot in the first place?


You have no idea the back story so whether NHS is free they still have left me disabled. I went into the hospital with a full dislocation of the knee joint and the doctor who seen me was a senior house doctor who is a doctor still going through training she didn't go to get advice on what was the severity of my injury and left me in excrutiating pain for 10 hours.

With my knee being dislocated the atery that runs down the leg was crushed with no blood getting to my muscle so the muscle died and left my foot paralysed i have muscle waste on my lower leg and find it hard to walk for long. So no it wasn't deliberate but it was negligent.What could have been done ? The knee could have been put into place at lot sooner or if they would have spotted the symptoms of compartment syndrome then they could have cut the muscle open and relieved the pressure in my muscle before it exploded in my leg.

But i don't need to explain myself to you or anyone i was giving an example of my situation.


Edited By: munkynutz on Feb 12, 2011 20:48
[mod] 1 Like #35
DLM
Syzable
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.I really should think about other people, Damn me
Although based on average income our tax rates are amongst the lowest in the world and even our highest rate of tax is lower than several smaller and larger European countries. As for fuel rates......a car is not a necessity but a luxury and therefore you can hardly cry rape for that. Finally living expenses are what you make them.


Some people need a car for work.


That is not a necessity though........it's advantageous but still a luxury. I've been driving and had a car since i was 17 but it's never been a necessity.
[mod]#36
whatsThePoint
Syzable
DLM
Syzable
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.I really should think about other people, Damn me
Although based on average income our tax rates are amongst the lowest in the world and even our highest rate of tax is lower than several smaller and larger European countries. As for fuel rates......a car is not a necessity but a luxury and therefore you can hardly cry rape for that. Finally living expenses are what you make them.
Some people need a car for work.
That is not a necessity though........it's advantageous but still a luxury. I've been driving and had a car since i was 17 but it's never been a necessity.


I'm only guessing at this but i'm sure a taxi driver would need a car for work


He would but then he is also earning a wage on that so he's not being 'raped' as the OP put it. It's then a work expense.
banned#37
Syzable
DLM
Syzable
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.I really should think about other people, Damn me
Although based on average income our tax rates are amongst the lowest in the world and even our highest rate of tax is lower than several smaller and larger European countries. As for fuel rates......a car is not a necessity but a luxury and therefore you can hardly cry rape for that. Finally living expenses are what you make them.
Some people need a car for work.
That is not a necessity though........it's advantageous but still a luxury. I've been driving and had a car since i was 17 but it's never been a necessity.

Can you tell me how my bf will be able to get to the other side of manchester for 7am?
#38
You should move, I hear council houses are cheap.......
[mod]#39
DLM
Syzable
DLM
Syzable
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.I really should think about other people, Damn me
Although based on average income our tax rates are amongst the lowest in the world and even our highest rate of tax is lower than several smaller and larger European countries. As for fuel rates......a car is not a necessity but a luxury and therefore you can hardly cry rape for that. Finally living expenses are what you make them.
Some people need a car for work.
That is not a necessity though........it's advantageous but still a luxury. I've been driving and had a car since i was 17 but it's never been a necessity.


Can you tell me how my bf will be able to get to the other side of manchester for 7am?


In times before transport they'd use legs or a horse...........or help out mr taxi driver. There are always ways to do it therefore it is a luxury and convenience.
banned#40
Syzable
DLM
Syzable
DLM
Syzable
icecreamwoman
Sorry, I'll just continue to get financially raped by our tax system, extortionate fuel costs and living expenses.I really should think about other people, Damn me
Although based on average income our tax rates are amongst the lowest in the world and even our highest rate of tax is lower than several smaller and larger European countries. As for fuel rates......a car is not a necessity but a luxury and therefore you can hardly cry rape for that. Finally living expenses are what you make them.
Some people need a car for work.
That is not a necessity though........it's advantageous but still a luxury. I've been driving and had a car since i was 17 but it's never been a necessity.
Can you tell me how my bf will be able to get to the other side of manchester for 7am?
In times before transport they'd use legs or a horse...........or help out mr taxi driver. There are always ways to do it therefore it is a luxury and convenience.

I think he wouldn't have had to travel that far to work.

There was plenty of work around back then.

What would the horse do whilst he was working 12 hour's?

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