The Right to Buy scheme gives secure tenants a discount on the market value of their homes. The amount of discount you can get will depend on how long you have been a tenant and whether you are buying a house, bungalow, flat, or maisonette.
In this area, the maximum amount of discount we are allowed to give is £82,800.
Buying your home is probably the biggest financial decision you will ever make, so take time to consider whether it is the right choice for you. It is important that you understand the commitment you will be taking on. Think before you buy; can you afford the loan and the other costs of buying and looking after your home? For example:
- If you buy your home, you will become responsible for all the costs of maintaining it, including routine repairs, major structural repairs, and improvements
- If you become a leaseholder by buying your flat or maisonette, you will have to pay service charges each year, and also pay towards the costs of major repairs and refurbishment to your block, such as re-roofing or re-wiring communal lighting
If you wish to use your Right to Buy, we recommend that you seek independent legal and financial advice. You should also seek independent financial advice about the different types of mortgages available.
If a person or company offers to help you buy your council home, it is advisable to talk to us before signing up to any deal. In other words, treat any ‘door-to-door’ sales-people with suspicion.
If you would like to speak to someone about the Right to Buy please contact our Right to Buy Officer.
You can find more information about Right to Buy on the official website; https://righttobuy.gov.uk.
You can find more information about owning a leasehold property on the Leasehold Advisory Service website; http://www.lease-advice.org.
Finance and Leasehold team
Tel: 01522 873280