Please read our Right to Buy Frequently Asked Questions section for more information.
Do I qualify for the Right to Buy Scheme?
You most likely have the authority to purchase your home under the Right to Buy scheme if you are a risk-free council tenant and have also spent 5 years as a public sector tenant. The 5 years do not need to be continuous and you are able to add together the time you’ve spent as a public sector tenant. A public sector tenant is someone whose landlord might be a public body like a council, housing association or Government Department or if you have lived in Armed Forces married quarters this will count towards you discount years. When you contact us we will be able to confirm whether you have the right to buy and the maximum years discount you will be entitled to.
I am a housing association tenant. Do I still have the Right to Buy?
Most housing association tenants don’t have the Right to Buy. But, for anyone who was a council tenant when your house was moved from the council to another landlord, just like a housing association, you may have a ‘Preserved’ Right To Buy. In the event that you do, you’ll still manage to obtain your home with a discount, the same as being a council tenant who has the Right to Buy. It is recommended that you first speak to us so that we can confirm this with your landlord. You may also have the “Right to Acquire” your housing association home which also provides slightly different discount than the Right to Buy Scheme.
What special discounts may I be entitled to?
The current maximum discount available is £75,000 (£100,000 if living in London). The discount applies to all councils within England.
You won’t learn about the exact discount you’re going to get until your house is valued by the council. The amount you obtain depends on how long you have been a public sector tenant and whether your house is a house or a flat.
Find out what discount you will get by contacting us?.
Can the discount be regarded as a deposit to reduce the amount I have to borrow?
Banks and Building Societies are usually prepared to treat the discount as a deposit. We strongly advice you to obtain professional financial advice by speaking to one of our recommended partner firms who can inform you of your best financial options based on your credit status, employment type and income.
Let’s say you wanted to sell your property further down the line, are you obligated to repay the discount back?
In the event you re-sell your home within five years you will probably have to pay back some or all of the discount you received. The amount will likely to be based on the resale price of your property and how long you’ve possessed it. Within the first 10 years additionally, you’ll have to provide your former Landlord the option to purchase. Only if the Landlord declines, is it possible to sell your property on the open market.
How do you search for a mortgage for your Right to Buy purchase?
For most of us, buying a home might be the greatest investment you’ll ever make. Our partner’s service helps you consider everything you will need to think about, including financial advice.
rightobuy.coop has partnered up with mortgage brokers who offer free, impartial help with money, including buying a home and having a mortgage. They may be contacted using this website or by calling 0800 7720037 or 01254 454077.
May I buy my council house or flat if I get benefits?
If you are on benefits it doesn’t affect your Right to Buy, but you will have to ensure you can afford your regular bills including your new mortgage. You wont be entitled to housing benefit if you are