Right to Buy

The Right to Buy scheme has been changed dramatically recently and is open to those who have been existing secure tenants of a “Right to Buy Landlord”, which is usually a Local Authority or other public sector organisation, for at least 5 years.

The scheme gives tenants a discount on the market value of their home. The longer you have been a tenant, the more discount you get, up to a maximum limit of £78,600 (£104,900 if you live in London).

If you live in a house, you get a 35% discount of you’ve been a public sector tenant for three years. The discount remains at 35% until you have five years public sector tenancy. After year five, the discount goes up by 1% for every extra year you’ve been a public sector tenant, up to a maximum of 70% – or £78,600 across England and £104,900 in London boroughs, whichever is lower.

If you live in a flat, You get a 50% discount if you’ve been a public sector tenant for three years. The discount remains at 50% until you have five years public sector tenancy. After year five, the discount goes up by 2% for every extra year you’ve been a public sector tenant, up to a maximum of 70% – or £78,600 across England and £104,900 in London boroughs, whichever is lower.

For further information on the Right to Buy Scheme, please see the “Right to Buy Guide” on our library page of this website.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

There may be a fee for Mortgage advice. The precise amount will depend upon your circumstances and we will discuss your payment options with you and confirm the actual amount payable before we begin to provide our services.