Right to Buy

The right to buy scheme is designed to help tenants of local councils and housing associations get onto the property ladder by buying the home they currently rent. Usually available to those who have been tenants for more than one year and in some circumstances, more than five years. The scheme offers a discount from the property value, allowing you, the tenant to buy it at a genuine discounted rate.

The level of discount varies according to how long you have been a council tenant, the type of property and the area in which you live. The discount you receive can in effect act as the deposit for the purchase, meaning that you have find less or no deposit from your own savings to make the purchase. And the balance of monies to be paid to the council or housing association for the purchase is paid from your mortgage lender.