Right to Buy guide to a council property

Right to Buy was introduced to give eligible tenants an opportunity to buy their council property at a discounted price.  This article will explain how you can buy a council property, if you have right to buy, what discount you could get and the timeframe for the process.

Wollens solicitor Lela Turkia writes this helpful guide. 

Are you eligible?

 You could be eligible to qualify for Right to Buy if:

• You have been a council tenant or a public sector tenant for at least 3 years.
• The property you intent to buy is your only or main home.
• You have no legal issues with debt, or you have not been made bankrupt.
• You do not have any outstanding possession order which says that must leave the property by a certain date.

 How do you start the process?

 If you qualify for right to buy, you need to complete the Right to Buy Form (RTB1 Form). You can obtain the Right to Buy form either from your landlord or download it from the Gov.UK website. Once completed you need to send the Right to Buy Form to your landlord. The landlord must respond to your request within four weeks. Your landlord can either refuse or accept your proposal to purchase the property. If your request is refused your landlord must say why and if your request is granted, you will receive an offer to proceed with your purchase.

 What discount are you entitled to?

 The discount you are entitled to depends on whether you are purchasing a house or a flat and the length of time you have been a public sector tenant. The maximum discount available is £96,000.00 across England, except in London boroughs where it is £127,900.00.

How do you finance the purchase?

 There are several different mortgage options available depending on your lender. Some lenders will treat your right to buy discount as your deposit, while others will not. It is worth obtaining mortgage advice from a professional mortgage broker to compare the available options that will suit your needs.

How long will it take?

 The time it takes could depend on several factors, such as:

• The speed of conveyancing process.
• The time it takes for your local authority to provide the initial paperwork.
• How long it may take you to secure your mortgage.

However, in our experience the right to buy process can take between three to six months.

You can also complete an online enquiry form. One of the Wollens team will contact you as soon as they are available.