Am i right in thinking that if you have bought a council house, you can not sell or rent it out till the time limit of 5 years has passed? or you have to pay back the discount you received? is there any way round it?

Don't tell 'em!!

Don't tell 'em!!

ooops, the most obvious answer and it never crossed my mind, if we rented through an agency tho, they would check this out? so it would have to be a private affair then

Once you have purchased a council property it is yours to do what you wish, so you can rent it out. However you will have to repay the discount you received if you try to sell within the 5 years (no way round that) but you can sell it if you want!

Id check that out a bit more before you put it on the market. I understand that if you now sell within 10 years of buying it, you have to give the local authority (or similar housing body operating in the area) first refusal at market price, this is refered to in section 188 of the Housing Act 2004. It also depends when you bought it, for example if you bought it prior to the Housing Act 2004 coming into force you could sell after 3 years without repaying any of the discount. If you purchase after this date, the yes it is 5 years (there a graduated scales re the repayment). Also, if youre looking at renting it out, make sure you have the correct mortgage which allows you to do this (ie a buy to let mortgage). On buying my council home last year, my conveyencing solicitor told me yes, I could rent it out when I wanted but ive since seen a clause in the deed that looks suspicious enough to suggest thats not the case. Id recontact the council and if necessary seek legal advice on it either way - best to not get tripped up with it eh?? :0)

Id check that out a bit more before you put it on the market. I understand that if you now sell within 10 years of buying it, you have to give the local authority (or similar housing body operating in the area) first refusal at market price, this is refered to in section 188 of the Housing Act 2004. It also depends when you bought it, for example if you bought it prior to the Housing Act 2004 coming into force you could sell after 3 years without repaying any of the discount. If you purchase after this date, the yes it is 5 years (there a graduated scales re the repayment). Also, if youre looking at renting it out, make sure you have the correct mortgage which allows you to do this (ie a buy to let mortgage). On buying my council home last year, my conveyencing solicitor told me yes, I could rent it out when I wanted but ive since seen a clause in the deed that looks suspicious enough to suggest thats not the case. Id recontact the council and if necessary seek legal advice on it either way - best to not get tripped up with it eh?? :0)

Yeah thanks kaymarie, the council has to be the first call, its my partners house, she purchased it two years ago, but now she may move in with me,so will also have to get her paperwork out and read all the small print.

No problem - I have a similar situation. My partner has a 'normal' mortgaged house and he moved in with me as id recently bought my house from the council the previous year. We decided to rent out his house (after checking the mortgage could rent it out) and stay in mine for the remainding 4 years at least. The idea is to then review our options and do some home improvements while we are in mine!! :0)......just wish he'd get a move on with the 'home improvements' haha. Promises promises........