Is right to buy the right thing for you?
ARE you up to date with Right to Buy, 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?
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 A GROUP of rotary clubs is looking for midwives, children’s nurses and doctors to volunteer in Africa.
Rotary District 1090, which covers clubs in Berkshire, Oxfordshire, South Buckinghamshire and West Middlesex, wants volunteers to joins its team on a trip to Kamuli Mission Hospital in Uganda to deliver training in baby and child care in April 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. How much does it cost?
Home ownership brings many benefits such as freedom to make changes, a sense of pride and an investment for the future. But it is not the right choice for everyone and one of the biggest questions to answer is ‘Can I afford it?’
When you buy a home you need to budget for both one-off costs and ongoing costs. And you need to allow for your finances to change in the future.
The one-off costs could include stamp duty, professional fees for a survey, conveyancing and other legal costs. The ongoing costs include mortgage or loan repayments, repairs and maintenance. If the property is leasehold (usually a flat) there will be an annual service charge and ground rent.
There is plenty of guidance available on our website to help you add up what this means for you. Working out your budget
We have an easy-touse calculator on our website to help you work out what discount you could get and if you can afford to buy. and October this year.
Hillingdon Hospital midwife Gillian Pearce has volunteered several times before. She said: “It’s a valuable lesson in resources because you have to make do with what you’ve got and be flexible enough to come up with an alternative if it isn’t.”
For more information, visit www.rotary-ribi.org or email Karen. firstname.lastname@example.org
The Money Advice Service offers free, impartial advice on budgeting, mortgages and other financial matters. You can contact them on 0300 500 5000 or go to their website at www. moneyadviceservice.org. uk.
The Government’s Right to Buy Agent service can also help you throughout the Right to Buy 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. What to do next
If you decide that home ownership is the right choice for you, and you want to find out more about Right to Buy, have a look at our website. If you decide to go ahead you will need to fill in the application form and take the process forward with your landlord.
For more information, www.communities.gov. uk/therighttobuy, call 0300 123 0913 or email enquiry@righttobuyagent. org.uk