Cole
Member
Registered: 11th Nov 02
Location: eastbourne Drives:zafira sold now a qashqai
User status: Offline
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Right me and the mrs have decided we want to buy our council house have already done the application and have received the valuation which was 148k of which we get 48% discount on so we need a mortage for 77k now as we have 70k equity in the house could this be used as a bargaining tool with the banks ie low deposit needed etc also anyone got any idea where is best to look for the best rates etc
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Chris x
Member
Registered: 11th Sep 08
Location: Bexhill
User status: Offline
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You get the house for half price because you live in a council house? :/
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Cole
Member
Registered: 11th Nov 02
Location: eastbourne Drives:zafira sold now a qashqai
User status: Offline
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yup 18yrs of living in one equates to a 48%discount you cant sell it for 5 yrs though
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Chris x
Member
Registered: 11th Sep 08
Location: Bexhill
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Fucking hell! That's mad!!!
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John
Member
Registered: 30th Jun 03
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I already know this happens but what a joke of a scheme. Cancelled in Scotland now.
Really throws shit in the face of people who pay tax to support that but have to pay the full amount of what the house is worth.
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Chris x
Member
Registered: 11th Sep 08
Location: Bexhill
User status: Offline
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I agree. Surprised they've not canceled it here tbh!
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taty
Member
Registered: 18th Apr 07
Location: Berwick-upon-Tweed, Northumberland
User status: Offline
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I think for alot of providers you dont need a deposet at all if your using r2b
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John
Member
Registered: 30th Jun 03
User status: Offline
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 that's even worse for someone who is just starting out and struggling to save a deposit. Well done government.
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ed
Member
Registered: 10th Sep 03
User status: Offline
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Jeez, what a ridiculous system; no wonder there's a shortage of social housing.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Shambolic scheme, shouldn't be allowed!
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
User status: Offline
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Back to the point though. The deposit is already in the house so you should just be able to get a mortgage set up providing your credit is ok. Should just need money for legals and a mortgage product fee. Speak to your bank first and see what they say. Easy peasy.
HSBC look like a good bet too. http://www.money.co.uk/mortgages/right-to-buy-mortgages.htm
Corsa 2.0 16v Vegas - Sold
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Cole
Member
Registered: 11th Nov 02
Location: eastbourne Drives:zafira sold now a qashqai
User status: Offline
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don't forget we have been paying rent on this place for 18 yrs. The level of discount is worked out on how long you have been a tenant for if I had only been a tenant for say 3 yrs I would get fuck all of the price plus the way the councils see it is that this house will no longer be their responsibility as at the moment everything is down to them. if I sell the house within 5 yrs then I have to pay back the 48% discount
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John
Member
Registered: 30th Jun 03
User status: Offline
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You've paid subsidised rent for 18 years.
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Cole
Member
Registered: 11th Nov 02
Location: eastbourne Drives:zafira sold now a qashqai
User status: Offline
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yes but rent is rent plus weve carpeted it decorated it 4 times landscaped the garden put patio doors put new fences up etc etc
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by Chris x
You get the house for half price because you live in a council house? :/
Fantastic, isn't it. Scroungers get the benefits yet again.
Not saying you're a scrounger Cole, I just think it's a flawed system. If someone can afford to buy a house, they shouldn't be in a council house.
I've always worked and didn't get the missus knocked up at 16 so wasn't entitled to a council house. Ended up having to save a huge deposit ourselves and paid extortionate monthly payments to our mortgage lender just to get on the bottom ladder of the housing market.
Unbelievable.
[Edited on 22-02-2014 by Ben G]
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John
Member
Registered: 30th Jun 03
User status: Offline
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And paid towards people with right to buy on top of that.
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Cole
Member
Registered: 11th Nov 02
Location: eastbourne Drives:zafira sold now a qashqai
User status: Offline
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im far from being a scrounger I can assure you worked all my adult life as has the mrs I know its a flawed scheme but like I said councils want to offload houses especially the older ones the one I live in is nearly 40 yrs old so
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Cole
Member
Registered: 11th Nov 02
Location: eastbourne Drives:zafira sold now a qashqai
User status: Offline
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looks like ive opened up a right can of worms here with out right to buy I couldn't afford to buy a house no way could I raise the deposit for a mortgage but we are only really doing this so we have something to pass on to the kids
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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Imo if you've worked all your adult life you shouldn't be in a council house, but thats just my personal opinion.
The other half of the argument is that if you aren't occupying the house then it'll probably house a family of dossing losers, so I guess your situation is the lesser of 2 evils as you're paying into the system.
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Cole
Member
Registered: 11th Nov 02
Location: eastbourne Drives:zafira sold now a qashqai
User status: Offline
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ive lived in a council house all my life ive seen all the dossers around my area come and go I couldn't afford the private rent around here 4 bed house is over 1k a month
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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Thats cheap. My mortgage for a 2 bed semi was 950 a month.
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taty
Member
Registered: 18th Apr 07
Location: Berwick-upon-Tweed, Northumberland
User status: Offline
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i think the right to buy is a good idea if the government stick to what they have said
for every house they sell under r2b they are going to use the money to build another council house
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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I don't understand how council houses work. How can you work but still get a house? Surely the council will ask you to move out and rent privately if you have an income?
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Haimsey
Premium Member
Registered: 8th May 05
Location: Nottingham Drives: Corsa B
User status: Offline
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People need to realise council houses are usually in undesirable areas.
Would you buy the house if offered to you for half it's market value and live in it for a minimum period?
I wouldn't.
Marcy Marc 
White Sport Progress Thread
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John
Member
Registered: 30th Jun 03
User status: Offline
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If you've lived in the house for 18 years it's probably not an undesirable area. It's only undesirable to someone who doesn't live there looking in.
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