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Beviss and Beckingsale
Mark Ollier

Right to Buy

Posted by Mark Ollier on May 7th 2014 in All , MOVING HOUSE .

Do you have a Right to Buy your home and obtain a discount of up to £75,000?

The Government’s Right to Buy Scheme provides certain tenants with a right to purchase their Council (or in some circumstances ex-Council) home. Furthermore, the length of time you have spent as a tenant could make you eligible for a discount of up to £75,000.00.

Who has the Right to Buy?

Whilst there are some exceptions, you will usually qualify under the Scheme where:

  • You are a secure tenant of a Right to Buy Landlord;
  • You have been a tenant for at least 5 years
  •  Your house or flat is self-contained; and
  • Your house or flat is your only or principal home.

A Right To Buy Landlord is generally a District, County, Borough or London Borough Council or a non-charitable Housing Association who purchased the property from the Council at the time you were a tenant.

Calculating the discount

The amount of discount for which you are eligible depends on the time you have spent as a tenant. If you live in a house the discount is 35% after 5 years tenancy and goes up by 1% for each additional year you have been a tenant up to a maximum percentage of 60% and a maximum value of £75,000. If you live in a flat, the discount is 50% after 5 years tenancy with an additional 2% for each extra year up to a maximum of 70% and a value of £75,000.