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Council tenants right to buy mortgage

Affordable Home Advice - Many of us live in council houses and have done for many years and as time goes by we might want to consider buying a home depending on how our circumstances have changed. To this end many families ...


Who has the 'right to buy' in the UK?
Since the 1980's, the Government has given council tenants the right to buy their council property. The scheme applies if you have been a council tenant for two or more years and have been a secure tenant of: A district council
A London Borough Council
A Housing Action Trust, or
A non-charitable housing association or other registered social landlord This scheme has proved very popular and is a perfect way to get onto the property ladder, without having to scrape together the money for a deposit. The Right to Buy scheme enables tenants to buy the council property at a discounted price and very often the mortgage payments are less expensive then the rent. Therefore, not only will you own your own home at the end of the term, you could also save yourself money.

Will you have to repay the discount?

Under the current right to buy scheme, once you have purchased a property you can sell it at any time - but restrictions apply. If you decide to sell the property within three years of purchasing it, you will have to repay some or all of the discount you received.

After three years, you are free to sell the property without having to repay any of the discount

Last update: 20.06.2018