Right to Buy scheme: England, Wales and Northern Ireland
If you are a council house tenant, you might be able to buy your home for less than its market rate. Here’s some information on the Right to Buy scheme and how to apply for it.
Right to Buy
How much will my discount be?
The maximum right to buy discount is:
- £103,900 in London
- £77,900 for the rest of England
- £8,000 in Wales
- £24,000 in Northern Ireland
- In Scotland the scheme is due to end (see below)
If you sell within five years you will have to pay back your total discount, or some of it, plus a share of any profit.
Can I Apply?
- You’ve been a council or public sector tenant for three years
- The home you want to buy will be used as your main home
- You don’t share rooms with other people – i.e. the property is self-contained
- Your landlord is the council, a housing association, NHS trust or other public sector landlord
- You can apply for Right to Buy with someone else who shares the tenancy with you; or with as many as three members of your family if you’ve lived together for at least the past 12 months
- If the council sold your home to another public sector landlord while you were living there, you may still buy it under ‘Preserved Right to Buy’
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE
FOR ESTABLISHING YOUR NEEDS, UNDERTAKING RESEARCH AND MAKING A RECOMMENDATION, WE CHARGE A FEE OF £95 ON APPLICATION UP TO £1,295 ON COMPLETION, HOWEVER OUR TYPICAL FEE WILL BE £95 ON APPLICATION AND £595 ON COMPLETION. OUR FEE BECOMES PAYABLE WHEN WE PROVIDE YOU WITH OUR RECOMMENDATION(S).
IF YOU CHOOSE TO PROCEED WITH OUR RECOMMENDATION AND THE MORTGAGE GOES AHEAD, WE WILL ALSO BE PAID COMMISSION FROM THE LENDER FOR ARRANGING THE MORTGAGE ON YOUR BEHALF.
IF YOU APPLY FOR A MORTGAGE THAT DOES NOT GO AHEAD, YOU WILL RECEIVE NO REFUND