Investor downsizing to former local authority house

B

bones99

Guest
I own 2 properties, one investment property and my primary residence. I am considering renting my primary residence and purchasing a former local authority house to live in. I will need a consent to purchase from the local authority as the vendor is a tenant purchaser. My question is...will the LA look unfavourably on this as I already own 2 properties?...and if sucessful what types of documentation will I be be required to submit to show that I am living there?
 
Surely it is the tenant purchaser that needs consent to sell rather than you to buy?
 
No, both parties need permission from the LA. They check out the purchaser in order to make sure that the purchaser is not an investor, as the last thing that the LA needs is paying a tenant rent supplement to rent a property that they (the LA) previously owned.
 
Back
Top