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Original poster

FTB: stay in social housing and rent out a small property?

121 replies

CorStrewth · 23/04/2023 12:12

I know this may be contentious but I believe completely legal.l and appreciate I'd have to check Ts and Cs of my rental.

Currently have a great social house, I've been a social tenant for 17 years and through being a good tenant was able to get a better and bigger house when I needed it 8 years ago.

Now DH and I have built our careers and looking to be FTB. We would go from £500 in rent to 1k-1.5k per month. I'm toying with the idea of buying a small property I.e. 1 bed flat and renting out, not necessarily for profit but to have that asset and essentially not costing me anything, kind of like a business venture, staying in our SH until we have a good deposit for a house to live in.

Are there any reasons financially why that may not be a good option? I have two children settled in school etx so downsizing and living somewhere smaller for a little while isn't as feasible as it would have been if we'd bought before having kids.

Thanks again, great advice yesterday re: FTB in current times

OP posts:
Whatthediddlyfeck · 23/04/2023 12:15

Hope you have your hard hat ready!😂

qpmz · 23/04/2023 12:15

I think if you have the money to buy a house, the council house should be given to someone in need.

OriginalUsername2 · 23/04/2023 12:16

You are aware of the families stuck in B&Bs?

Lavenderlaze · 23/04/2023 12:16

It would be a disgusting move.

jay55 · 23/04/2023 12:18

It's not easy to get a buy to let mortgage on your only property.

And also it would be scummy.

purpleme12 · 23/04/2023 12:18

Wow is this actually legal?!

cocksstrideintheevening · 23/04/2023 12:20
Biscuit
miniegg3 · 23/04/2023 12:21

Are you actually allowed to do that? I'd be surprised if you could..

GiveInToTemptation · 23/04/2023 12:21

This is why social housing needs to be means tested and people should move on once they earn above the threshold.

CaptainMyCaptain · 23/04/2023 12:22

qpmz · 23/04/2023 12:15

I think if you have the money to buy a house, the council house should be given to someone in need.

100%

LiftyLift · 23/04/2023 12:22

Oh come on. You got a bigger and better house when you need it, allow another family to have the same if you can afford to buy. Don’t be a dick.

Florissant · 23/04/2023 12:23

CorStrewth · 23/04/2023 12:12

I know this may be contentious but I believe completely legal.l and appreciate I'd have to check Ts and Cs of my rental.

Currently have a great social house, I've been a social tenant for 17 years and through being a good tenant was able to get a better and bigger house when I needed it 8 years ago.

Now DH and I have built our careers and looking to be FTB. We would go from £500 in rent to 1k-1.5k per month. I'm toying with the idea of buying a small property I.e. 1 bed flat and renting out, not necessarily for profit but to have that asset and essentially not costing me anything, kind of like a business venture, staying in our SH until we have a good deposit for a house to live in.

Are there any reasons financially why that may not be a good option? I have two children settled in school etx so downsizing and living somewhere smaller for a little while isn't as feasible as it would have been if we'd bought before having kids.

Thanks again, great advice yesterday re: FTB in current times

Biscuit
Seventhirtyanditsearly · 23/04/2023 12:23

I think this is allowed as long as your council property is your main residence and has always been. Might be worth checking your tenancy agreement though a well.

It would I think affect any benefits if you get UC

Lavenderlaze · 23/04/2023 12:24

GiveInToTemptation · 23/04/2023 12:21

This is why social housing needs to be means tested and people should move on once they earn above the threshold.

No it's not. This isn't about income it's about buying another property.

Almost certainly a troll anyway, starting a row on two fronts.

piefacedClique · 23/04/2023 12:24

Absolute dick move!

Seventhirtyanditsearly · 23/04/2023 12:25

purpleme12 · 23/04/2023 12:18

Wow is this actually legal?!

If OP has a secure tenancy then yes I think it is . OP could have millions in the bank and be allowed to keep a council house but if it’s not a secure tenancy it may not be allowed.

purpleme12 · 23/04/2023 12:26

Seventhirtyanditsearly · 23/04/2023 12:25

If OP has a secure tenancy then yes I think it is . OP could have millions in the bank and be allowed to keep a council house but if it’s not a secure tenancy it may not be allowed.

Show quote history

Wow this is shocking.
I mean I understand OP might well be a troll but I can't understand how this can happen?

BloomstoShrooms · 23/04/2023 12:26

Not financially viable, unless you have a good financial cushion.
If you did, you'd buy a house, so I'm guessing you don't.

As many FTB are older (like yourselves) one-bed flats are difficult to sell. Even single buyers want at least a 2 bed so they can have a lodger to help with costs.

Furthermore you will have to pay full stamp duty and lose your FTB benefit on the house. Being a LL can also be very expensive especially with void periods, maintenance etc .

Spidey66 · 23/04/2023 12:28

No. Just no. Buy a property, and give up your council house. I don't know about the legality but it's totally immoral, when there are so many waiting for a council house.

MooseAndSquirrelLoveFlannel · 23/04/2023 12:30

Our social housing tenancies say it has to be "your sole and principle property" and I have referred cases to fraud investigators for people breaching this by owning other properties.

Yours may be different, but morally I am surprised you could think this is right. We have 10,000 people waiting for houses for my HA.

bigbluebus · 23/04/2023 12:32

You do realise lots of landlords are pulling out of buy to lets as it's no longer viable/attractive for many of them.
And I agree with others - morally it's wrong. There is a massive shortage of social/affordable housing. If you can afford to buy the move on out and let another family get a roof over their heads.

BeetrootBeetrootGhali · 23/04/2023 12:35

I’ve said it before and I’ll say it again…

I’m so glad I’m not a UK taxpayer. You guys seem to have a very fucked up system.

Seventhirtyanditsearly · 23/04/2023 12:35

purpleme12 · 23/04/2023 12:26

Wow this is shocking.
I mean I understand OP might well be a troll but I can't understand how this can happen?

Show quote history

Once you have a secure tenancy (they Tony often give these types of tenancies now but there are still many people who have them) you can literally win the lottery and not be expected to move - there is no means testing they were just given as secure lifetime tenancies and most had succession rights so can in theory regardless of financial circumstances remain in the same family for a long time

Seventhirtyanditsearly · 23/04/2023 12:35

Tony - don’t !

tubing · 23/04/2023 12:35

Wow is this actually legal?!

yep, i know someone who has done it.