Right to Buy or Right to Acquire?

What are the differences?

Right to Buy

The Right to Buy scheme is a government initiative that lets council house tenants buy the property they rent.  These homes are offered at a discounted price to help renters get on the ladder.

If you have been a public sector tenant for between 3-5 years you get a 35% discount on your council home.

The maximum this can increase to is 70%, or 80% or £87,200 across England and £116,200 in London boroughs. As long as you have been a public sector tenant.

Households wanting to sell within five years, some or all of the discounts need to be paid back.

Right to Acquire

This is a similar scheme to Right to Buy for people who have rented from a housing association or a public sector landlord.

To qualify you need to of lived in the home for a minimum of three years.

This offer could offer a discount of between £9,000 – £16,000 on the property purchase price, varying depending on location of the property.

However, if you decide to sell the property within a 10-year period, the property must be first offered to the original landlord and a price agreed.

If the landlord does not wish to buy the property, a price will need to be agreed, it can then be sold to the open market.

If the property is sold within 5 years, then a percentage or all of the discounts will need to be paid back on a sliding scale.

For more information feel free to reach out.  Our consultations are free:  hello@mtge.uk

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