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Council Right to Buy

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Right to Buy mortgages, sometimes referred to as council purchase mortgages, are a means of raising the necessary finance to purchase the property.

The first Council Tenants’ Right to Buy scheme was introduced during 1980 by means of the 1980 Housing Act.  This was further developed in an update to the Housing Act in 1984.  The Council Right To Buy scheme, gives many tenants living in local authority properties the right to purchase them at a discounted value.

You can apply for Right to Buy if you’ve had a public sector landlord (council, housing association, NHS trust) for five years (it doesn’t have to be five years in a row), it’s your only or main home, it’s self-contained and you’re a secure tenant.  More information is available here on the gov.uk website.

What level of discount do I qualify for?

If you qualify for Right to Buy, you can get a discount on the market value of your home when you buy it. The discount is based on:

  • How long you have been a tenant
  • Where you live
  • The type of property you’re buying (a flat or a house)
  • The value of your home.

The discount is calculated as a percentage of the property value based on how many years the tenant has lived in the property and whether the property is a house or flat. The value of the discount is subject to a regional maximum up to £80,900 across England (£108,000 in London).

You may not need a deposit as the discount may be used for that purpose.

We can help you get the right mortgage

Give us a call on 01223 329666 or send a message, we can call you back at your convenience.

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