Hello, welcome to the website. My name isXXXXX can assist you with this.
It will be her that has the right to buy - not you, and hence you cannot buy the house using her discount. However, you would be able to loan her the money and lodge a charge over the property. You could potentially enter into some agreement whereby you recognise that she will transfer the house to you upon death.
i under stand that it will be in her name and i dont want to charge her any rent for her being there as she will already lost her housing benefit when she buys it and i am happy to keep the propty in good repair.i just dont want it to be used for payment for her care if she has to go in to a care home. so basically i want her to have not to worry about loosing her house, i get to keep good neighbors and also get a good long term investment
You can't have all these things unfortunately. Only she can buy using the right to buy. If somebody loans the money to her, then it is still her house, and this is an asset that can be considered for care fees etc.
If she buys it with your loan, she could agree to transfer it to you later, as part of this arrangement, but the problem is that the reason for transfer will be closely looked at by the Local Council potentially if care fees become an issue.
what about the amount of money that i have lent her will this be returned to me if she sells to pay for care costs
Yes, if you put a charge on the property - i.e. your own mortgage. She would need to agree to this, and I would recommend you get a solicitor to draw it up for you to protect yourself.
After all, it would be a big investment for you.
so i could get a mortgage agreement drawn up even if it means her only paying a very small amount say like an intresst only repayment and the rest of the debt left at the point of sale will be returned to me
Yes, that's right. But you can get a mortgage agreement that doesn't require regular payments like are paid to professional lenders.
So you would be able to get her to pay nothing until her death.
Or perhaps on the sale of the property.
as to the investment side of it could i get the end payment to include interest so i would make something when it is sold and in death the whole house will be left to me?
Yes, you could.
lets say for every year of the mortgage a charge of £2000 is added
Yes, you can do that easily.
thanks for all you help tony have a good day
And you too! Thank you!