Page 2 | What would you do. Buy or rent housing association flat?

Cheeseandlobster · 2022-12-03T14:05:16+00:00

I am posting on behalf of one of my best friends who doesn't know what to do. She is living with her ex dp in his home. He is a difficult character in lots of ways as he never made time for her and was emotionally unavailable. He has however said she can stay as long as she needs to sort herself out. She has always wanted to buy her own home but is unable to afford anything other than a run down property in a bad area. She has a 10 percent deposit and enough for second hand furniture. At 45 she feels time is running out but is scared of negative equity with the current economic climate. She has also been bidding for local authority/ housing association flats and has been 4th or 5th in line recently so may be successful soon. She has a job which will give her just enough to get by on but her salary will increase in increments over time. She is torn between desperately wanting to own her own home but she won't be able to afford anything but bills, food and socialising only once a month. Or the option of an ha flat where she could afford to have a better life than just affording the essentials. I think she would struggle not being able to go out often after her relationship breakdown but am worried advising to go down the ha route might be the wrong thing. What would you do in this situation?"

Stomacharmeleon · 03/12/2022 18:08

In this climate and on here own I would take the housing association flat.

OliveWah · 03/12/2022 20:17

I'm amazed that someone with £30k in the bank would be offered a HA property! There are SO many people, many with young children, with no savings, who would (and should imho) be much more of a priority than a single woman with huge savings.

NewBootsAndRanty · 03/12/2022 20:36

OliveWah · 03/12/2022 20:17

I'm amazed that someone with £30k in the bank would be offered a HA property! There are SO many people, many with young children, with no savings, who would (and should imho) be much more of a priority than a single woman with huge savings.

Single woman = 1 bed property
Family = 2+ bedrooms.

PickyEaters · 03/12/2022 20:37

Take the HA flat! No question.

OliveWah · 03/12/2022 20:43

NewBootsAndRanty · 03/12/2022 20:36

Single woman = 1 bed property
Family = 2+ bedrooms.

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I’m sure a small family (a single parent with a baby for example) would be elated to be offered a one bedroom flat. I just think that if you have £30k in the bank then you’re nowhere near as “in need” of a HA property, than someone (and I’m particularly talking about those who have young DC here) who can’t afford to rent privately and is unlikely to be in a position to buy. It seems selfish to me that when there are so few available, someone would think it’s ok to take a HA property that could go to someone with nothing, when they themselves could afford to either buy their own place, or rent privately.

Ivyblu · 03/12/2022 20:43

OliveWah · 03/12/2022 20:17

I'm amazed that someone with £30k in the bank would be offered a HA property! There are SO many people, many with young children, with no savings, who would (and should imho) be much more of a priority than a single woman with huge savings.

I don't agree with this view though this is why it's difficult to save if your in HA and buy. OPS friend has not been offered but she's perfectly entitled to. 30k sounds decent but some rents are nearly £1000 per month so based upon this what would OP do after spending all her savings?

Because private houses are a lot more money than Social housing.

NewBootsAndRanty · 03/12/2022 20:45

OliveWah · 03/12/2022 20:43

I’m sure a small family (a single parent with a baby for example) would be elated to be offered a one bedroom flat. I just think that if you have £30k in the bank then you’re nowhere near as “in need” of a HA property, than someone (and I’m particularly talking about those who have young DC here) who can’t afford to rent privately and is unlikely to be in a position to buy. It seems selfish to me that when there are so few available, someone would think it’s ok to take a HA property that could go to someone with nothing, when they themselves could afford to either buy their own place, or rent privately.

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It's unlikely to happen though if the HA are doing the allocations.
My HA always advertises 1 beds as suitable for a single person or a couple, but not families (even small ones).
2 beds are advertised as suitable for small families/single parents.

Obbydoo · 03/12/2022 20:55

Cheeseandlobster · 03/12/2022 15:16

She has about 30k in savings she says. There is no savings threshold mentioned on the council website but some websites say some areas have a 50k threshold so she would be below that.

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Wow! It is no surprise we have so little social housing for those who actually need it if we are letting people with £30k savings have them. Advise her to do the right thing and stand on her own two capable feet rather than taking up much needed social housing.

Illdoittommorow · 03/12/2022 20:58

Yes this is a good idea. For someone on their own it's good to know that building maintenance etc will be taken care of etc

kitcat15 · 03/12/2022 20:59

NewBootsAndRanty · 03/12/2022 15:46

Is that for every HA property?
I've been in mine for over a decade and have no RTA/RTB or similar.

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my DD had the option to buy her HA house after 3 year...with 9k off market value

kitcat15 · 03/12/2022 21:02

OliveWah · 03/12/2022 20:43

I’m sure a small family (a single parent with a baby for example) would be elated to be offered a one bedroom flat. I just think that if you have £30k in the bank then you’re nowhere near as “in need” of a HA property, than someone (and I’m particularly talking about those who have young DC here) who can’t afford to rent privately and is unlikely to be in a position to buy. It seems selfish to me that when there are so few available, someone would think it’s ok to take a HA property that could go to someone with nothing, when they themselves could afford to either buy their own place, or rent privately.

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🙄 you sound like the selfish one....the OPs friend has as much right to bid as anyone with small children

OliveWah · 03/12/2022 21:06

kitcat15 · 03/12/2022 21:02

🙄 you sound like the selfish one....the OPs friend has as much right to bid as anyone with small children

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I sound like the selfish one?! 😆How exactly? I’m genuinely interested to know how you’ve deduced this from my post.

The OPs friend has as much right as anyone else with £30k in the bank. I am saying that she has less right than someone without £30k in the bank, a family in particular.

Ragruggers · 03/12/2022 21:12

She is unlikely to be offered a HA property.The situation in most areas is dire.Those being offered are in emergency accommodation,hostels.The housing officer goes through bank statements and savings to see if you could rent privately.Hope she finds something soon.

EricNorthmanYesPlease · 03/12/2022 21:19

I would recommend she looks dor a shared ownership.
You get the benefits of owning your own home to the price you can afford, but the safety net of the housing association doing repairs etc.

General property advice is always to buy the worst house on the best street. NEVER has it been a good idea to buy the worst house in a bad area.

EricNorthmanYesPlease · 03/12/2022 21:23

Ragruggers · 03/12/2022 21:12

She is unlikely to be offered a HA property.The situation in most areas is dire.Those being offered are in emergency accommodation,hostels.The housing officer goes through bank statements and savings to see if you could rent privately.Hope she finds something soon.

Shropshire isnt like this at all. there a loads of.available properties to bid on. Housing associations are building whole estates of affordable rent properties. They dont go through bank statements, they just want to make sure tou can afford the rent/mortgage. From my experience they was never a need to look for private rentals.

Ivyblu · 03/12/2022 21:57

@EricNorthmanYesPlease how many years ago was that? When did you last apply to move house? There's a housing crisis and there has been for years!

I moved in 2016 and it was happening prior its now a lot lot worse.

Stomacharmeleon · 03/12/2022 22:49

I am on the south coast and we have properties that are specifically for the over 50's and for single people. It does happen...

Original poster

Cheeseandlobster · 03/12/2022 22:52

OliveWah · 03/12/2022 20:17

I'm amazed that someone with £30k in the bank would be offered a HA property! There are SO many people, many with young children, with no savings, who would (and should imho) be much more of a priority than a single woman with huge savings.

Her savings would be eroded extremely quickly if she rented privately. Then she wouldn't be such a high priority as she would be classed as securely housed even though she would be struggling to live. The council say they will contact her if she is successful to offer a viewing. No mention of savings at all other than checking info already provided.

OP posts:

Original poster

Cheeseandlobster · 03/12/2022 22:58

Yabado · 03/12/2022 16:59

My son is doing a rent to buy
long story but he is renting the property he is going to buy as a SO from a HA just waiting for his mortgage to be finalized .
he rents it at just below what his mortgage / rent & service charge would be so much cheaper than regular renting the same apartment
is this an option for your friend
my son has a years AST but they disregard this as soon as he buys it so he won’t have to pay any extra months rent once he buys and he will get his deposit back as well

She cant afford this. The combined mortgage and rent is too much for her alone. Sadly lone buyers / renters struggle much more than those doing it with someone else

OP posts:

Beezknees · 03/12/2022 23:11

Rent the HA flat.

I live in a HA flat and rent. It's so, so cheap. £470pm for a 2 bedroom flat. It's mine for life and maintenance is not my responsibility. I am concentrating on putting money into my pension rather than worrying about housing costs.

Beezknees · 03/12/2022 23:14

Ragruggers · 03/12/2022 21:12

She is unlikely to be offered a HA property.The situation in most areas is dire.Those being offered are in emergency accommodation,hostels.The housing officer goes through bank statements and savings to see if you could rent privately.Hope she finds something soon.

They certainly didn't go through my bank statements when I was offered my property, although it was in 2008 so things could have changed.

Mondy · 03/12/2022 23:35

Don't assume that all housing association properties have right to buy / right to acquire, as they don't. We lived on a street of HA houses and flats, the people in the houses were allowed to buy them, the people in the flats were not, something to do with the fact that they were flats and thus had communal staircases etc.

SkylightSkylight · 03/12/2022 23:39

Beezknees · 03/12/2022 23:11

Rent the HA flat.

I live in a HA flat and rent. It's so, so cheap. £470pm for a 2 bedroom flat. It's mine for life and maintenance is not my responsibility. I am concentrating on putting money into my pension rather than worrying about housing costs.

Seriously?

my friend has HA 2bd tiny new build. £1050 pm (with 3.5% annual increase), 7 year agreement then ??

how can they just allow it to be SO different up & down the country?

SkylightSkylight · 03/12/2022 23:40

how can I find out what the provision is locally? Just as an interested person, not someone applying for one?

NewBootsAndRanty · 03/12/2022 23:45

Not sure about tenancy agreement length, but HA's will usually have a list of properties they own, and will advertise available ones online showing the monthly rent.
You could contact them directly and ask?
I got an assured tenancy through mine and my neighbour that moved in a couple of years ago got an assured tenancy after a 12mth period.