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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To not know whether I should look at getting a mortgage or remain in my council property

34 replies

whatyadoing · 24/05/2018 20:39

This probably seems like the dumbest question ever....

If you had a council property, would you continue renting from the council or are there some glaringly obvious benefits to shared ownership or something?

OP posts:
DianaT1969 · 25/05/2018 06:00

I'd stay in the property renting if I were you and concentrate on savings/pension so that you have a comfortable retirement. After your past experiences, paying a mortgage and being 100% responsible for the maintenance of the property, could feel stressful.

x2boys · 25/05/2018 06:28

having had a mortgage in the past , and now for various reasons in social housing, having a mortgage isnt all that tbh, if anything goes wrong , boiler; repairs etc its all down to you; if you become too ill to work etc , the mortgage company won't care , but you would get housing benefit to pay your rent.

whatyadoing · 25/05/2018 07:11

RamblinRosie - thank you - that seems like sound advice.

OP posts:
whatyadoing · 25/05/2018 07:13

Thanks all - hadn't seen page 2 of the replies. Lovely replies and thanks for the advice. I will just save what I can and then make a decision in a few years time about right to buy (if it still exists) if the old mental health stays in good nick.

OP posts:
FASH84 · 25/05/2018 07:21

You do realise no one criticised you or council renting. They criticised the right to buy scheme where the government allows people to buy their council house for a huge discount and that is then removed from council housing stock and the government don't build and replace them, meaning people like you who absolutely deserve access to council housing, can't always get it when they need, because right to buy leads to fewer and fewer council properties existing. You've been given sound advice here and you've done brilliantly to achieve what you have in the circumstances. Just don't want you to think anyone was having a pop at you, when really they were having a pop at a government scheme that reduces the amount of affordable housing.

BlueBug45 · 25/05/2018 07:27

OP - There are people who are now homeless who did shared ownership (I think The Guardian has a couple of articles about it in the last year). Anyway the rent and particulary the service charge increases meant they couldn't afford their properties, and ended up losing them.

Likewise there are people in council properties who did right to buy and found they couldn't afford the maintenance costs their council charged them for works. How this is resolved depends on the council.

Concentrate on ensuring you have a good pension and then savings. A pension doesn't count as income until you draw from it, so this means if you have any problems the council has to look after you.

NincompoopsShadow · 25/05/2018 09:12

OP, if you've had serious health problems renting, for now at least, would be best? Also, shelter are brilliant at giving housing advice, even if you aren't experiencing housing or financial issues at the moment.

I'm only writing my experience so you can see how buying can go wrong l, even with the best resolve in the world.

I bought my own property, doing super well as a newly divorced single parent to 3 teens and felt on top of the world. I'd also been homeless, for 13 months in my mid-teens and my position and happiness was definitely a huge triumph for me. But then... I had a big health problem and I was stuck because I had my mortgage to pay. When renting you are entitled to housing benefit.

I eventually got back to work (self employed) after 7 long years rebuilding my physical and mental health. Managed, with huge struggles, to stay in work for 13 years. I became seriously ill, lost the career I'd worked hard for and loved and now I am isolated, struggling to eat, pay my bills and mortgage. I wish I had rented.

I have no boiler, hot water, shower, and lots of repairs needing doing. I can't even sell because I bought when house prices were great, they fell, and I am in negative equity. My overall situation is dire and every single night I go to bed praying I won't wake up.

I hope you can find good impartial advice and things continue to improve for you, you've been amazing turning things round so well, I don't know you, but feel really proud of you.

whatyadoing · 26/05/2018 00:20

Nincompoopshadow.
I am so sorry to hear that you are going through this. What utter hell! I pray you will get sorted soon. Thank you for sharing such a painful story to help me. x

OP posts:
VladmirsPoutine · 26/05/2018 00:35

NincompoopsShadow That sounds awful. I really hope, as trite as it may sound, that life throws some compassion your way.

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