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Original poster

Can I buy shared ownership for a.parent?

29 replies

SquashBandicoot · 04/12/2025 18:43

One of my parents is renting a private flat that is increasingly unsuitable. There is a shared ownership build nearby with a very affordable 25% share for over 55s.

My parent wouldn't get a mortgage alone even for this small amount. If I got a mortgage with them, would they then be able to live in the flat as they are one named homeowner and it wouldn't matter that I don't?

I can't afford a normal flat purchase for them but this is very doable. Parent is in their 70s and this would mean they would have a safe, suitable accommodation. Bit worried about when it comes to sell though as would have to cover costs myself.

OP posts:

RedToothBrush · 04/12/2025 18:51

It depends on the individual development as shared ownership rules tend to be unique to each.

Technically I would wonder if you'd effectively be sub-letting a property. We had to live in ours and weren't allowed to sublet.

It depends on whether there are set criteria to purchase too. Our didn't allow us to own another property and we had to have an income under a certain level when we bought.

My gut is that it's probably not possible but you'd need to ask the question outright.

You should also look out for issues with service charges and ground rent. Ours were linked to inflation and one of the reasons we sold up was because it was getting so extortionate. I know there's been a lot of people caught by this. It can make them difficult to sell on too. I know moved have been made to tighten up on this, but you should look closely at this.

senua · 04/12/2025 19:03

Why not rent a flat in a retirement property, one run by a reputable charity. For example, locally we have the ExtraCare Charitable Trust who do ownership and rentals.

Original poster

SquashBandicoot · 04/12/2025 19:08

@senua they are too expensive near us

OP posts:

Bambamhoohoo · 04/12/2025 19:12

You wouldn’t be allowed to purchase the property for your parents.

so now you have the issue that you’re unlikely to find someone to give you a mortgage on a property you don’t own or reside in.

In addition, shared ownership mortgages are (fairly) specialist with only a few lenders so not very flexible.

Unfortunately , I don't think this is possible. It’s worth phoning the housing association and asking them though.

senua · 04/12/2025 19:17

SquashBandicoot · 04/12/2025 19:08

@senua they are too expensive near us

Is she getting all the financial help she is entitled to?

Bambamhoohoo · 04/12/2025 19:22

senua · 04/12/2025 19:17

Is she getting all the financial help she is entitled to?

Show quote history

She can’t get a mortgage, What financial help could she get that would help her become a homeowner?

LadyLapsang · 04/12/2025 19:28

I don’t think it would work unless you were in a position to give her 25% cash as a gift without reservation, but then you would need to sign documents and would have no interest in the flat. Further down the line this could be an issue if she ever needed care as the LA would make her sell it and put a charge against it for the care home costs or when she died if she didn’t need care you may not inherit, e.g. if the will divides up the estate with siblings.

Has she looked at property to rent through the Almshouse Association - they have places to rent in Amersham and other nice places.

senua · 04/12/2025 19:34

Bambamhoohoo · 04/12/2025 19:22

She can’t get a mortgage, What financial help could she get that would help her become a homeowner?

Show quote history

That is precisely why I was talking about renting, not ownership.

Original poster

SquashBandicoot · 04/12/2025 20:01

Had sudden revelation that could get a normal flat if we bought as tenants in common as would only need 10% deposit. Have been hung up on needing to be their landlord to make it work.

He currently owns 40% of what was the family home after divorce 20 years ago. My mum is still in the family home and has the right to be there until she dies (they went for a very odd divorce settlement). But he has almost no savings and a small pension. I have a good wage. Would we be able to get a mortgage together?

OP posts:

LadyLapsang · 04/12/2025 20:07

Do you have siblings to consider?

suburberphobe · 04/12/2025 20:07

Goodness OP, that's a complicated situation and not one MN can answer I don't think.

A Solicitor is your next port of call.

Wishing you all the best. I've been through it so I feel what you're going through.

Bambamhoohoo · 04/12/2025 20:29

suburberphobe · 04/12/2025 20:07

Goodness OP, that's a complicated situation and not one MN can answer I don't think.

A Solicitor is your next port of call.

Wishing you all the best. I've been through it so I feel what you're going through.

About what the mortgage? A solicitor can’t help with that.

OP if you buy the flat how will he pay then rent? He already can’t pay his rent. You can’t claim benefits on the rent of a property owned by a family member.

i think you’d have to be prepared to at least be stuck paying the mortgage repayment, but potentially you might get stuck with the bills.

Original poster

SquashBandicoot · 04/12/2025 20:29

@LadyLapsang yes three siblings, none of whom are in a financial position to help.

OP posts:

Original poster

SquashBandicoot · 04/12/2025 20:58

@Bambamhoohoo he can pay his rent, the current flat is unsuitable as top many floors up and no lift.

Retirement places near where he is are extortionate and only seem to be supported living for rent so inaffordable.

He can bills and rent but has very little savings, maybe £5k

OP posts:

Bambamhoohoo · 04/12/2025 21:05

SquashBandicoot · 04/12/2025 20:58

@Bambamhoohoo he can pay his rent, the current flat is unsuitable as top many floors up and no lift.

Retirement places near where he is are extortionate and only seem to be supported living for rent so inaffordable.

He can bills and rent but has very little savings, maybe £5k

Supported living is a social housing tenure it should be much cheaper than market rent? Or is it that he doesn’t need supported living so it’s not available?

1457bloom · 04/12/2025 21:10

Why don’t you lend her money and secure the loan against the property with a charge so you will eventually get it back in the future.

Hollyhobbi · 04/12/2025 21:15

I'm pretty sure no lender would give a mortgage to someone in their 70s.

Original poster

SquashBandicoot · 05/12/2025 08:38

@Bambamhoohoo supported living is more than his private rent as it has additional services. The ones in his area are £200-300 a month more. There is one in potential distance that is £100. His private rent is just under £500 but the stairs will make it impossible soon enough.

He has all the financial support he is eligible for and is on PIP. He's vulnerable to things like being cuckoo'd so can't find private rental in cheaper areas. Hes in a big northern city.

OP posts:

Bambamhoohoo · 05/12/2025 09:12

Have you investigated housing associations over 55 rental provision? He would qualify and they are in low demand. If you haven’t I’d start by googling your area and over 55 housing association flats

Bambamhoohoo · 05/12/2025 09:21

Also just to add- you mentioned sheltered housing is more than his rent of £500 a month which isn’t surprising - over 55s will be too big he will get housing benefit- but more importantly the rental element of shared ownership having only 25% share as per your original idea would be well in excess of £500 - probably double plus the mortgage payment

Florencesndzebedee · 05/12/2025 09:29

I would assist him to put in an application to the council for sheltered housing. Even though he’s a part home owner you would be able to legitimately argue that he can’t live in the property he part owns. If he has medical conditions, this will also be taken into account. It might take some pushing. Council sheltered housing is more readily available than normal council housing as it’s restricted to over 60’s generally. Yes, he’ll have to pay rent but he can apply for housing benefit to cover his rent and service charges if his income is low.

Lerea · 05/12/2025 13:15

I have supported my mum getting a family guarantor mortgage. We are both on the mortgage but only my mum is on the deeds, I don't own the property at all and my mum pays the mortgage repayments. I would be liable if she failed to make repayments but that has never happened. It is fairly commonly used by ftb with their parents being a guarantor but it works the other way around too. Ours is with Natwest and their max age is 75, but there are other products out there. I would recommend contacting a broker.

https://www.moneysupermarket.com/mortgages/guarantor-mortgages/

WaitingForMojo · 05/12/2025 13:41

Bambamhoohoo · 04/12/2025 20:29

About what the mortgage? A solicitor can’t help with that.

OP if you buy the flat how will he pay then rent? He already can’t pay his rent. You can’t claim benefits on the rent of a property owned by a family member.

i think you’d have to be prepared to at least be stuck paying the mortgage repayment, but potentially you might get stuck with the bills.

Show quote history

You can claim rent on a property owned by a family member. You have to declare it and meet certain criteria.

Original poster

SquashBandicoot · 05/12/2025 13:53

@Lerea so useful, thank you

OP posts:

Original poster

SquashBandicoot · 05/12/2025 15:17

Spoke to shared ownership place - the rent would be £266 a month on 25% share and £191 on a 50% share plus service charge of £152 a month. So cheaper than his private rent.

They suggested equity release for the 40% he owns of what was family home. I think if he was going to do that, would be better off going for a normal purchase.

OP posts:

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