harvey19 Posted February 13, 2015 Share Posted February 13, 2015 You are aware that right to buy gives the purchaser a massive discount? Because you appear to be entirely ignorant of how it works. I am fully aware of how "Right to Buy" works. You have completely missed my point which was that the selling price had risen above the buying price and therefore if the house is sold by the owner to fund care costs the council would then benefit by increase in value which probably is more than the original discount. Do you understand now ? Link to comment Share on other sites More sharing options...
truman Posted February 13, 2015 Share Posted February 13, 2015 I am fully aware of how "Right to Buy" works. You have completely missed my point which was that the selling price had risen above the buying price and therefore if the house is sold by the owner to fund care costs the council would then benefit by increase in value which probably is more than the original discount. Do you understand now ? I suspect the owner will sell well before the need to fund care comes in...the council will then have to fork out for that as well as having gifted the house.. Link to comment Share on other sites More sharing options...
harvey19 Posted February 13, 2015 Share Posted February 13, 2015 I suspect the owner will sell well before the need to fund care comes in...the council will then have to fork out for that as well as having gifted the house.. Most people I know stay in the house they bought from the council. The "gifted" house story appears to be sensational reporting if you read the posts from MJW47 which includes an article from The Times and my summary. It is an offence to dispose of funds instead of using them to fund care and any proceeds from the sale of an home for this purpose can be claimed by the council. Link to comment Share on other sites More sharing options...
truman Posted February 13, 2015 Share Posted February 13, 2015 Most people I know stay in the house they bought from the council. The "gifted" house story appears to be sensational reporting if you read the posts from MJW47 which includes an article from The Times and my summary. It is an offence to dispose of funds instead of using them to fund care and any proceeds from the sale of an home for this purpose can be claimed by the council. If they sell their house 10 years before they may need care (say in their 50's 60's) then I doubt there'll be any comeback..or are you saying if you sell your home at anytime then you are liable for care costs? Your summary is no more accurate than my take on it.. Link to comment Share on other sites More sharing options...
harvey19 Posted February 13, 2015 Share Posted February 13, 2015 (edited) If they sell their house 10 years before they may need care (say in their 50's 60's) then I doubt there'll be any comeback..or are you saying if you sell your home at anytime then you are liable for care costs? Your summary is no more accurate than my take on it.. 7 years is the term usually quoted. If the home is sold previously and the money put into savings this money would still be classed as assets even though not linked to the house sale as any savings would be. PS did you read the posts I referred to ? Edited February 13, 2015 by harvey19 Link to comment Share on other sites More sharing options...
truman Posted February 13, 2015 Share Posted February 13, 2015 7 years is the term usually quoted. If the home is sold previously and the money put into savings this money would still be classed as assets even though not linked to the house sale as any savings would be. PS did you read the posts I referred to ? I've read all the posts thanks..so sell up spend the free cash..back to the council for care? Win Win really isn't it..all for working for a year.. Link to comment Share on other sites More sharing options...
harvey19 Posted February 13, 2015 Share Posted February 13, 2015 I've read all the posts thanks..so sell up spend the free cash..back to the council for care? Win Win really isn't it..all for working for a year.. I think there will be more details and conditions to the proposal than "just having to work for a year". Link to comment Share on other sites More sharing options...
truman Posted February 13, 2015 Share Posted February 13, 2015 I think there will be more details and conditions to the proposal than "just having to work for a year". All we can comment on is the info out there at the moment....from that it appears that working for a year after being unemployed will gift you your council house which is then yours to do with as you please..stay there for over 3 years and you keep all the proceeds from it.. I've seen nothing published yet which contradicts this.. Link to comment Share on other sites More sharing options...
vwkittie Posted February 13, 2015 Share Posted February 13, 2015 Dreadful idea. If they have a job they should have to leave the council house and buy/rent their own home like everyone else, leaving the council house free for someone who actually needs it. Link to comment Share on other sites More sharing options...
Cyclone Posted February 13, 2015 Share Posted February 13, 2015 I am fully aware of how "Right to Buy" works. You have completely missed my point which was that the selling price had risen above the buying price and therefore if the house is sold by the owner to fund care costs the council would then benefit by increase in value which probably is more than the original discount. Do you understand now ? No, you're ignoring the fact that the council would have benefited directly from the price rise had it still owned the house. There is no way to benefit by giving away or selling your assets cheap, even if you hope that some of the profit will later come back to you. ---------- Post added 13-02-2015 at 11:38 ---------- 7 years is the term usually quoted. If the home is sold previously and the money put into savings this money would still be classed as assets even though not linked to the house sale as any savings would be. PS did you read the posts I referred to ? Not everyone needs care, and even if they do the amount they have to pay is capped. Link to comment Share on other sites More sharing options...
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