Are you a council tenant, or were you living in your home when the council transferred it to another landlord?
If yes, now might be the ideal time to think about buying your home.
That’s because the top discount under the Right to Buy in England has been increased. You could now get a maximum discount of up to £75,000, or £100,000 if you live in London.
Why you might like to buy
Your home could be a valuable asset for you and your family and an investment for the future. Home ownership could give you more freedom to make the changes you want to your home. This could be your first step on the property ladder.
Remember, buying your home is a big decision and a commitment that shouldn’t be taken lightly. The responsibilities, costs and financial commitments that ownership brings need to be thought about carefully, so you should always get impartial financial and legal advice before buying.
But with a bigger discount of up to £75,000 (£100,000 in London) now available, this could be the perfect time to decide if it’s the right choice for you.
The money raised through extra sales is now going straight towards building new affordable homes for rent.
This website provides you with some of the main information to get you started – things to consider, what discount you could get, how to apply, and useful contacts for free, unbiased advice and information.
The government recently announced plans to increase the maximum discount for a house to 70% of its value, and the £75,000 cap (£100,000 in London) will start increasing in line with the consumer price index (CPI) rate of inflation. These changes will require changes to the law – the aim is to do so in the Spring. Read the questions and answers.