Home > Legal Articles > Right to buy – who can apply?

Right to buy – who can apply?

Posted on Monday, 14th March 2016 by

home sweet homeDo you live in a home that you currently don’t own but would like to? If you have lived there for a long period of time, then the ‘Right to Buy’ scheme will enable you to buy your home at a lower price than the market value. To qualify, the property you wish to buy must be your only home and you mustn’t have a bankruptcy petition against you.

There are other factors that you need to bear in mind, for example, you must have had a Public Sector Landlord (a Housing Association) for at least 3 years (these 3 years would not need to be continuous). The more years you have been living with a Public Sector Landlord the more of a discount you are entitled to. Also, if you are living with someone who has had a Public Sector Landlord longer than yourself, then you will qualify for their high rate of discount.

After 3 years of living in a house, you are entitled to a 35% discount and a further 1% for every year after, up to the maximum of 70%. However, after 3 years of living in a flat, you are entitled to a 50% discount and a further 2% for every year after, up to a maximum of 70%. Please bear in mind that the ultimate maximum discount you can get is £77,900, unless you live in London and then the maximum discount will be £103,900.

Alternative to ‘Right to Buy’ – if you can’t qualify for this scheme other options include buying your home jointly with other family members that you have lived with for the last 12 months or they are a Joint Tenant with you.

If you would like to talk to a specialist about the Right to Buy scheme or another conveyancing matter then please do not hesitate to get in touch with the residential conveyancing team in Leicester

The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer.  If you are interested in obtaining advice, please contact one of our solicitors who will be happy and able to advise you on your own particular circumstances.

Talk to our legal team

The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.

[]
1 Step 1

Quick Quote

Your Nameyour full name
Contact Number
Post Codeyour full name
Your Messagemore details
0 /
Previous
Next

Ashley Patel - Residential Conveyancing
Ashley Patel - Residential Conveyancing
Ashley.Patel@ehlsolicitors.co.uk 0116 266 5394
Related author articles
Article tags

Map and pin icon
Sign up to our newsletter
  ERROR: 8 - CURL error: