Is right to buy the right way for you to own your home?

COUNCIL and housing association tenants are you up to date with Right to Buy?

Right 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 the scheme was refreshed in April 2012 the discounts have increased. Currently, eligible tenants can get up to 70% off the cost of their house or flat up to a maximum cash discount of £77,000 in England, and £102,700 if you live in London. Each year these discounts will increase by the rate of inflation.

Since 2012 nearly 30,000 people in England have become homeowners 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 right choice for everyone and potential owners need to be sure they can afford it. But homeownership also brings many benefits such as freedom to make changes, a sense of pride and an investment for the future.

Receipts from additional Right to Buy sales go into building new affordable housing.

Who qualifies for the 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 5 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 the moment, keep an eye on news about Right to Buy as the Government is hoping to make further changes to eligibility later this year.

What to do next

If you want to find out more about buying your home and whether you are eligible for a discount through Right to Buy, have a look at our website. 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 Right to Buy Agent service offers free and impartial advice on Right to Buy. If you decide that home ownership is the right choice for you, the advisers will help you throughout the process from applying to completing. The advisers can provide information on finding a mortgage, appointing a solicitor and arranging a survey.

If you are midway through buying and have a problem, get in touch with the Agent service and they can advise you.

The advisers are available from Monday to Friday, 8am until 6pm. You can phone them on 0300 123 0913.

For more information: Website: www. communities.gov.uk/ therighttobuy Phone: 0300 123 0913 Email: enquiry@ righttobuyagent.org.uk