The Right to Buy scheme allows most council tenants to buy their council home at a discount.
You can apply to buy your council home if:
- it’s your only main home;
- it’s self-contained
- you’re a secure tenant; and
- you’ve had a public sector landlord (eg. a council, housing association or NHS trust) for 5 years (it doesn’t have to be 5 years in a row)
As of 2 April 2012, the Right to Buy discount has increased – the maximum discount is £75,000 for anywhere in England.
If you qualify for Right to Buy, you can get a discount on the market value of your home when you buy it. Your home’s market value is the price it would fetch if it was sold.
Previously, the maximum discount ranged from £16,000 to £38,000, depending on where you lived. As of 2 April 2012, the discount you can get is based on:
- how long you’ve been a tenant; and
- the type of property you’re buying (a flat or a house)
If you are interested in applying for the Right to Buy, you should complete Form RTB1 and send it to your landlord.
We have a number of clients who have taken advantage of the Right to Buy scheme and as such, we have a wealth of experience in dealing with the legal requirements.
Please do not hesitate to contact us if you are interested in our services on 0191 5682050.