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DoINeedOne

Cheap Council House

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So was chatting to a friend today whilst having a coffee

When he starts telling me about how he is going buy his mums council house, he said she phoned up asking if it was possible for her to buy it they came back with yeah of course you can

Anyway after a while the council have offered them £100,000 discount on this house

They had it valued where one a few doors down went for £230,000+

They said it was worth £190,000 for 3 bed council house in south east London not a bad area either just near Bexley south east London

So he now going buy a 3 bed house for £90,000

Whilst part of me thinks fair play i would bite there hand of too

Another part me thinks like most why do i bother, i have never claimed a penny from the government , pay all taxes, started a business and deal with constant headaches , work longer hours only stuff i get back it from my hard work

i love it but sometimes wonder why when i know people on benefits, or single mums etc... get stuff so easy

how many working people would love chance of getting a 3 bed house for £90,000

just blows my mind

Anyway back to work

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I don't know if its the same country wide but the only way that would be possible around my way would be if it was bought with cash ( unless the mother could acquire a mortgage) as the local council will check to see who the mortgage holdler is

The discount is only available to the person whose name is on the tenancy agreement

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I don't know if its the same country wide but the only way that would be possible around my way would be if it was bought with cash ( unless the mother could acquire a mortgage) as the local council will check to see who the mortgage holdler is

The discount is only available to the person whose name is on the tenancy agreement

Doesn't stop the son loaning the money and hoping to reap the rewards later. Let's hope his plans aren't scuppered by residential care.

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Doesn't stop the son loaning the money and hoping to reap the rewards later. Let's hope his plans aren't scuppered by residential care.

How quickly/what are the implications of her signing the house over to him/selling it to him really cheap just to sort the deeds out?

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How quickly/what are the implications of her signing the house over to him/selling it to him really cheap just to sort the deeds out?

"If you sell your home within 10 years of buying it through Right to Buy, you must first offer it to either:

your old landlord

another social landlord in the area

The property should be sold at the full market price agreed between you and the landlord.

If you can’t agree, a district valuer will say how much your home is worth and set the price. You won’t have to pay for their valuation.

If the landlord doesn’t agree to buy your home within 8 weeks, you can sell it to anyone."

www.gov.uk

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"If you sell your home within 10 years of buying it through Right to Buy, you must first offer it to either:

your old landlord

another social landlord in the area

The property should be sold at the full market price agreed between you and the landlord.

If you can’t agree, a district valuer will say how much your home is worth and set the price. You won’t have to pay for their valuation.

If the landlord doesn’t agree to buy your home within 8 weeks, you can sell it to anyone."

www.gov.uk

Jesus, that really is ker-ching isn't it.

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<br />The Irony is £90k is about what an average 3bed house <i>should </i>cost in a typical suburb, even accounting for London wages...<br />
<br />

Unequivocally THIS ^^^^^^^

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<br />

Unequivocally THIS ^^^^^^^

these sell offs are help to buy in reverse.

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"If you sell your home within 10 years of buying it through Right to Buy, you must first offer it to either:

your old landlord

another social landlord in the area

The property should be sold at the full market price agreed between you and the landlord.

If you can’t agree, a district valuer will say how much your home is worth and set the price. You won’t have to pay for their valuation.

If the landlord doesn’t agree to buy your home within 8 weeks, you can sell it to anyone."

www.gov.uk

Well a few years ago someone I know bought their parents large 3 bed council house with big front and back garden in a nice north London area for £30k not long after that they rented it back to the same council on a long guaranteed rental agreement whereby it was to be returned in the same condition as when let out for more than £1000 a month.....some 12 years later the same HB tenants are living in it. ;)

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Anyway after a while the council have offered them £100,000 discount on this house

This figure is rather strange.:blink:

Maximum discount on Right to Buy is £75,000.

Someone is pulling the leg here.

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Just reply to what some others have said he is lending the money to his mum because he still lives there himself saving to buy a house :lol:

The way he sees it is, its a house for him and his mum to live in which he owns but its in her name so eventually it be transferred over

And if as his mum said she might be moving else where in few years he has it to himself

As Executive Sadman this should be price of average house, the funny part is its probably 5 minutes away from the apartments i posted about he 2 bed for £400,000+

Kidbrooke Village

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Folk don't like to sell their homes, especially old folk who've had a life in one, in a neighbourhood where they know and trust people.

Did this guy say how much duress his old mom was under? What about the siblings? Are they in on the deal too?

Parents aren't even in the grave and the kids are nipping at them constantly to consent to offing their legacy.

Why not offer to keep mom in the house, and pay for residential care, like a good caring child should?

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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