Right to Buy

The Right to Buy scheme offers council tenants in England between £16,000 to £38,000 discount off the market value of their council home, depending on where they live.

Who qualifies for a Right to Buy discount?

To be eligible for the Right to Buy discount scheme you will need to have been a public sector tenant for at least three years. The property has to be your only home and it has to be self-contained.

How do you apply?

Visit the Right to Buy website:- Right to Buy

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Discounts

You can get a discount on the market value of your home when you qualify for Right to Buy.

The discount is between £16,000 and £38,000 depending on where you live.

The discount is based on:

  • Where you live

  • The type of property you are buying - a flat or a house

  • The value of your home

  • How long you've been a tenant with a public sector landlord

You will usually have to repay some or all of your discount if you sell your home within 5 years.

Will you need a mortgage?

Purchasing your home through the council's Right to Buy scheme is very similar to buying a property on the open market, except the home owner (in most cases the council) is able to offer a substantial discount on the price you have to pay.

Many mortgage lenders will let you use your Right to Buy discount as your deposit, meaning you will not need to save for a deposit yourself. However, some lenders may still expect you to put down a deposit as well.

For Example:

Valuation from the council               £300,000

Right to Buy discount                            £38,000

Mortgage / purchase price              £262,000

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