Sell home >> Buying, selling and renting a house >> Home buying schemes >> The Right to Buy Scheme

The Right to Buy Scheme

The Right to Buy Scheme gives suitable council tenants the right to buy their property from their council at a reduction. Renters of housing associations who hold the preserved right to buy may also be eligible for the method.

Are you eligible?

If you have been a safe council renter for at least two years you are likely to have the Right to buy your council home at a reduction.

If your are a secure tenant of a local authority and the possession of your property was transferred to a housing association you may be entitled for a Preserved Right to Buy for your property. This will only apply if you are still the renter of the same property before and after the transfer.

You do not have the right to buy if:

You do not have the right to buy if:

• you are an assured tenant of a registered social landowner and do not possess a PRTB
• your home is rented in relation to your employment
• the courts have issued a possession order for you to leave your home
• you are undergoing bankruptcy proceedings
• you live in housing specially provided for older people and disabled people

Discounts available

The measure of discount depends on how long you have been a renter. For example if you have lived in a house for five years the discount is 35% of the market value of your house. If you have lived in a home for 20 years the discount is 50%.

However, the discount is limited to the highest amount available for your area. The most discount ranges from £16,000 to £38,000 for both flats and houses depending on where you live. To find out about the discount accessible contact your landholder.

If you sell the property among within five years of buying it, you may have to pay back the discount.

Buying your home

Buying your home is a major financial pledge which will involve immediate one-off costs such as legal fees and Stamp Duty Land Tax as well as new ongoing outlay such as paying the mortgage, repairs and service charges. Some councils offer a cash inducement scheme to tenants who move to smaller or private accommodation.