Advertisement feature Is the time right for you?
CRight to Buy is the scheme that helps eligible council and housing association tenants buy their home by offering a discount on the purchase price.
Since 2012 the discounts available have increased and the rates have recently risen again. The new top cash discount is £77,000 in England, and £102,700 if you live in London. Each year the discount will increase at the rate of inflation.
In addition, eligible tenants can now get up to 70 per cent off the cost of their house – the same maximum percentage discount as for flats.
Since the scheme was refreshed in April 2012, more than 22,500 people in England have become home owners through the Right to Buy scheme. Could this be the right time for you – or somebody you know – to join them?
Home ownership is not the rig everyone owners n they can However, ownershi benefits – pride, free make cha an investm the future
All additiona purchase through t Right to B scheme g straight in building n affordable housing f people lo Who qua Right to Buy? Tenants are likely to be eligible to buy their current home if they can answer ‘yes’ to the following questions:
Are you currently a council tenant, or were you living in your home when the council transferred it to another landlord (housing association)?
Have you been a council or housing association tenant for five years or more?
Can you confirm that you do not live in sheltered housing or other housing designed for elderly or disabled people?
In addition, tenants need to be free from legal problems with debt or outstanding possession orders, and their home isn’t due to be demolished.
If you don’t qualify at make further changes to eligibility in 2015. What to do next To find out more about buying your home and whether you are eligible for a discount through Right to Buy, visit www.communities.gov. uk/therighttobuy.
There is an easy-to-use calculator to help you work out if you can afford to buy and lots of practical tips about the buying process.
If you decide to go ahead, you will need to fill in the application form and take the process forward with your landlord. Support from start to finish
The government’s new Right to Buy Agent service offers free and impartial advice. u decide that ownership is the hoice for you, the rs will help you h the process, pplying to eting. They can e information on a mortgage, ting a solicitor ranging a survey. u are midway h buying and e a problem, get touch with the gent service and ey can advise you. Advisers are ailable Monday to iday, between am and 6pm, on 00 123 0913.
more information, visit www.communities. gov.uk/therighttobuy or call 0300 123 0913, or email enquiry@ righttobuyagent.org.uk.