Vacant property grant - joint ownership

lightspeed

Hi

I'm looking at buying a derelict property with a friend who works in the building trade.

I have read in the Q&A document that "the owner must be an individual/s who owns the dwelling ( jointly or not) and the local authority must satisfy itself as to the ownership prior to approval of the grant"

I'm assuming it's aimed at couples buying a property together to live in but does not explicitly state that this is the case.

So could myself and my friend buy the derelict vacant property, get the vacant property grant, renovate it and rent it out for the 10 year term?

We would split the rental income obviously so for example if property generates 12k a year, we each would have taxable income of 6k.

My thinking would be we would set up a joint bank account to manage this and for which the grant would be paid into. Is this even possible to have a joint account with someone who is just a friend and not a spouse/partner?

Mellor

Nothing about about that implies it must be a married couple. Nor do you have to be a couple to have a joint account. Housemates could have one if they wanted. Or two people jointly running a business, etc

BryanF

OP is there an owner occupier clause with that grant?