deadlybuzz123
Registered User
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Different Councils may have different views on allowing Affordable properties be rented out. Some Councils might even be interested in renting the property from you. You may not be covered under the MPI scheme if property is rented. If you rent, there will be a penalty if you sell before 2026 as you will not benefit from clawback reduction for years when property is rented. Speak to your Council.The scheme was designed to assist people like yourself, you met the criteria at that point, I would say that the scheme was never intended to provide a rental income, at least not for the twenty years as you outline.
How long are you into the scheme and if within the 20 years are you going to speak with the local authority or not disclose your plans.
The scheme was designed to assist people like yourself, you met the criteria at that point, I would say that the scheme was never intended to provide a rental income, at least not for the twenty years as you outline.
How long are you into the scheme and if within the 20 years are you going to speak with the local authority or not disclose your plans.
I wasn't planning on speaking to the local authority. I was advised to say nothing by someone I know who has been renting their a/h for years without any issues.
Im sure others are in the same position as the OP, and its a fair question. You needed help years ago, as life was difficult enough to warrant state help, things have improved nowadays, and happily so, you want to limit your Daughter going through the same episode you did.
I also wonder how my kids, Nephews and Nieces will also be able afford to buy in the years to come.
If I were in the OPs shoes, I too would look to seek the possibilities of doing the same for my own daughter, most would do the same, so dont throw the moralistic card about, this Country abandoned same decades ago, and as we have seen lately, we still haven't found it.
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