Have We The Right To BUY?
We Moved into a Housing Association house about 11 years ago. But The Association speak we moved in 6 months to behind for the right to buy.I heard somewhere that if you hold lived in a rented property for more than 10 years including private parkland lords you have the right to buy that property.
IS THAT THE CASE?
Answers: I can answer for private landlords, and at hand is no right to buy scheme. I deduce it would only apply to council tenant, sorry.
Add... I may well be wrong near part of my answer, I've merely had a look at this...
http://www.direct.gov.uk/en/HomeAndCommu...
You should enjoy ....i have lived within my house for 8 years and i have right 2 buy
http://uk.answers.yahoo.com/question/ind...
right to buy is just available for council tenants. if your tenant is a housing association you do not have the right to buy irrespective of how long you own held the tenancy.
Visit your local Citizen's Advice Bureau, they should know how to give you free guidance and help beside this matter.
I dont ponder you can force anyone to sell their property to you simply because you've rented from them for 10 yrs
I used to work for a Housing Association, and I'm aware that this was a couple of years put a bet on and laws metamorphosis all the time, but my acumen is that you only enjoy to have lived within the property for TWO years, not ten years as you say, and that if you need to buy then they can't turn down to sell it.
I suggest that you contact the Housing Corporation (link below). They are a national body (England) which regulates the demeanour of Housing Associations. They might be able to shed some table lamp onto why your HA have told you this - I don`t know some HAs can opt out of it?
BTW, of course Right to Buy doesn't apply to private tenant - only to council or HA tenant. How can you force someone to sell their property?
What is the difference between 30yr fixed jumbo loan and a 30yr fixed loan?
Answers: jumbo loans are loan above the conforming loan standard guidelines
The conforming loan limit is the maximum loan size eligible for purchase by either Fannie Mae or Freddie Mac, who purchase the underlying securities from mortgage originators. .
these guidelines are what every lender and bank go by. In some areas this guide changes slightly.
The conforming loan limit, or "Jumbo Loan amount" is set every January. The 2007 limit for single-family homes and condominiums is $417,000
I think Jumbo is for huge loan amounts, the other is for conventional amounts.
Someone who works that industry may be able to tell you the actual standards.
as of Friday January 25, 2008 the conventional loan limit was $417,000. Anything above that loan amount is considered a Jumbo. The rates are higher on Jumbo Loans than on conventional loans.
I live within Chicago ILL my husband and I want to buy a house for $200,000. How would are closing cost be?
we also are going to put 3% down.Answers: Closing costs are determined by your lender and are different with respectively investor - ask your lender for a Good Faith Estimate.
Our closing cost were around $5500 on a $230,000 loan, but I don't judge the loan amount matters, closing cost take-home pay for things like title research, attorney fees, ect...
I should mention that I'm not in Il, I'm surrounded by Massachusetts, should be close to same though. Also Ditech has $500 closing cost on loans right very soon.