thow to buy my mums council house

[viali]

my mum is getting old and has lived in her council house and our family home for 50 years...
can i give her the money to buy itas i am worried when she dies it will be taken back and i would like her to own it so she does not have to worry about it and i woould live there once she has passed on

[merciasounds]

Great idea - go to your local housing office - it'll be in the phone book. shouldn't cost you too much as your mum has been a tennant for a long time. Good luck.

[Postdog]

Unless things have changed since I bought my mums, the best way to buy it - for you too - is as joint owners. My mum had no chance of paying a mortgage, but I did (especially discounted). Mind you, I did live there too, and it was peace of mind for me because I would have been forced to move on top of losing my mum.

[Postdog]

Regarding the first answer, time lived there makes little difference to the amount of discount, as after so many years the maximum is capped. Also I believe the discounts are smaller anyway since I bought, but whatever, they are still a good buy.

[starone]

You should definitely try for joint ownership as if you buy it in her name only and she eventually has go into a care home or nursing home you would have to sell it to pay the fees.

[puternut]

You might want to check out the fact that you do not actually live at the address at the moment and so you might not be able to buy in your own name. Check with the Councils Right to Buy section

Fair enough if the deeds are in your mothers name.

However, as stated by starbuckone you may run into trouble if she goes into a home.

Also might cause problems unless it is left solely to you in your Mums will - not forgetting Inheritance Tax!!!

[hc4361]

There is no inheritance tax if the total value of the estate is less than £325,000 and if it is payable it has to be paid regardless of the amount of beneficiaries.

The beneficiary doesn't pay it except inasmuch as they inherit the value after the tax has been paid.
http://www.hmrc.gov.u...-when-you-inherit.htm

[Maydup]

Its definitely a good idea to buy, and you don't have to live there for her to buy it. You just need to finance it and talk to a solicitor for some advice on how to deal with this once you've got it. ie tenents in common of to transfer it to your name.

Best to seek some professional advice before you go any further.

[johnk]

My cousin paid for his mothers council house and on her death his brother demanded a share of the house so beware of this.

[Postdog]

regarding the last post, if the name isn't on the ownership documents, there is no real worry just make sure that when you buy it is on the same basis as it would be a married couple. I have (or had, we we haven't spoken in years) a sister who felt she was entitled to half of my mums share when she died, leaving me with 3 quarter ownership in the house. It didn't work that way, but I suppose in theory there was a way it could have. You just need to set things straight from the start.

[Ric.ror]

Can I just ask where you will get the money from?
I ask because I am not sure if they will give you a mortgage to buy it for your Mum