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 £77,000, or £102,700 if you live in London. Under plans announced by Government, this amount will now increase every April in line with inflation.
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 £77,000 (£102,700 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 since April 2012 goes 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’s new Right to Buy Agent service also offers free and impartial advice on Right to Buy and, if you decide home ownership is the right choice for you, our advisers can help you through the process of buying your home.
The Right to Buy scheme was introduced in 1980 and is designed to help council and housing association tenants in England buy their home at a discount.
Since April 2012, major changes have been made to Right to Buy. Maximum discounts were increased from as little as £16,000 in some areas to a maximum of up to £77,000 across England (£102,700 in London).
More than 30,000 tenants have become homeowners since the Right to Buy discounts were increased. Money raised through extra sales is now going towards building new affordable homes for rent.