Introduced by the Government in 1980, the Right to Buy Scheme gives eligible social housing tenants the opportunity to buy their home at a favourable discount. You’re likely to qualify for the Scheme if you are a secure council tenant and have spent at least three years as a public sector tenant (which means that your landlord is a public body such as a council, housing association or Government department).
Discount levels vary between houses and flats. You should be aware that if you sell your property within 5 years of buying it under the Scheme, you will be required to repay all or part of the discount based on a sliding scale. If you sell within 10 years of purchase, you must offer to sell your home back to your former landlord or housing authority - this is called the right of pre-emption. Any buy-back price would be based on the market value at the time.
The conveyancing process under the Right to Buy Scheme is usually straightforward, and we can assist you step-by-step through to completion.
Get in touch today
To learn more about Right to Buy, please get in touch today - our friendly conveyancing experts will be happy to discuss your requirements and answer any questions.