 Information
on right to buy schemes for council and private tenants.
There are different right to buy schemes currently in operation
for council tenants or registered social landlords. These include
the right to buy, right to acquire, the voluntary purchase scheme,
shared ownership and home buy scheme. You can apply for a loan to
buy your rented property by clicking on the image on the right.
Tenants
Right To Buy
Introduced in 1980 by Margaret Thatcher, the right to buy scheme has
proved extremely popular and is available to tenants to buy their
rented home at a discounted price assuming certain conditions are
met such as the length of the tenancy and qualifying period, contact
you local council for details. Certain eligible housing association
tenants can also apply to buy their home, again conditions will
apply; therefore, contact your housing association or council for
further information.
Right
To Acquire
Some Housing Association tenants may also qualify to buy their
rented home at a discount under the right to acquire scheme.
Eligibility for this scheme depends on when the property was built
or purchased by the Housing Association and the number of years you
have rented, either from the local council or association. To find
out whether you qualify, contact your Housing Association or visit
the
Housing Corporation1
Voluntary
Purchase
There are Housing Association organisations that choose to offer
their own schemes which are known as ‘Voluntary purchase’ that allow
tenants to buy. However, the prices charged for each rented property
and the eligibility criteria are determined solely by the Housing
Association concerned. To find out more visit the
Housing Corporation2
Shared
Ownership
In recent years the
shared ownership scheme has proved popular for housing
association tenants wishing to get a foot on the property ladder.
Not least, because it is an affordable option that allows tenants to
buy a stake or share in the property. There is usually the option to
buy the property outright in future years.
Please Note! YOUR
HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR
OTHER LOAN SECURED ON IT. ALL SECURED OR UNSECURED LOANS ARE SUBJECT
TO STATUS. SECURED LOANS ARE SECURED ON PROPERTY.
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LEGAL NOTICES ON THIS WEBSITE.
Please note, the services and information on this site do not
constitute any form of advice or recommendation by UK Property
Business Plan and are not intended to be relied upon by users in
making any order or purchase. Appropriate independent advice should
be obtained before making any such decision.
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