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Purchasing a Council House
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Hi, I know its been a few months but I came across this board and it's exactly the information I need.
I live with my Mother and have been paying rent since the age of 18 (I'm now 30) I have looked into this scheme and have been told by the council on numerous occasions that I cannot apply to purchase the house as only the main tenant can apply. My mother is working but earns a small amount and would not be eligible for a mortgage.
I have been told there is no way I can become a joint tenant or have my name added to the tenancy. Is this true?
If there is a way to do this I would be so grateful if you could explain how.
Thanks[Deleted User] wrote: »I did this.
The factual side of it is:
1) Your granny won't be allowed to purchase unless she has an income from employment. If she only has an income from Social Welfare or pension etc. then she is not eligible to purchase the house. Someone living in the house has to be making income from a current job.
2) So, yes, you can still buy it! You must put your name down on the rent, and pay the rent for a year with both of you living there (The rent cost will be adjusted upwards to take your income into consideration). You can then apply to buy. You must have the income from employment or they won't entertain you.
3) If you allow the Council to adapt the house for a disability, then the house is removed from the scheme. You can not purchase a house that has been adapted for a disabled tenant. Also, as part of the process of adapting the house, the Council will inform any tenants of the house that once the disabled person dies, the house will be taken back by the Council and given to someone else. Any other able-bodied tenants in the house will be re-homed elsewhere (ie; you lose the house).
4) If you go down the route of going onto the rent, paying your share and then trying to buy next year (a new tenant has to be on the rent for 12 months before you can purchase) then your own income is taken into consideration (unsure if your granny's SW payment will be or not) to work out what percentage you get (40,50 or 60%).
5) The rules state that it doesn't matter where the money is coming from to buy the house. Your granny is legitimately allowed to get help from family, friends, etc. to get the money together. However, as per no. 1 above; she still needs to have a current income from work.
6) The discount you got from the CoCo is still owed back to them if you sell the house within 25 years. If you sell the house in the first 5 years of owning it, then you owe them back the full discount. After the 5th year of ownership, the amount you owe them drops by 10%. It then drops by 2% every year after that until 25 years have expired (depending on the discount you get, the 25 years clawback can last 30 or 35 years).
7) If you attempt to sell the house (at any time, not just within the 25 years), the CoCo get first refusal on buying it back into their stock before you're allowed sell it privately.
I'm flying out the door at the moment so can't really write any more but i did this very recently, so any questions just fire them at me
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