The criticisms aimed at the Government regarding the lack of affordable housing are not going away and the Government is hearing them loud and clear. In recent years the Government has helped set up various initiatives in order to solve the crisis from homebuy schemes and shared ownership to promising to build more affordable homes over the next twenty years.
This has not stopped the critics though. Several figures in the property industry have claimed the houses the government is proposing to build are not enough and will do little to ease the problems. There have also been complaints that the Government is acting too slow.
Never-the-less it cannot be disputed that these initiatives are beneficial for some groups of people. And one such initiative is the Right to Buy scheme.
What is the Right to Buy Initiative?
The Right to Buy scheme was developed to help council tenants to buy their council house. The tenants receive a discount on the cost of the house. The discount they receive varies depending on how long they have lived in the council house.
What Discounts are Available?
The discounts available on the property depend on the number of years the tenant has lived in it. If the tenant has lived in the house for twenty years they will receive a 50% discount on the house. If a tenant buys the council property and then goes on to sell it they may have to pay back the discount to the council.
Your situation may be slightly different. ask a question below ↓ and our editorial team will reply with our advice.
Who is Eligible for the Right to Buy Scheme?
To be eligible for the Right to Buy scheme you must be a council tenant and you must have lived in your property for two years or more (obviously the longer you have lived in the property the bigger the discount will be.)
However there are some instances in which you would not have the Right to Buy even if you have lived in your house for over two years. If your home is connected to your work i.e. if it is rented by your employers for you then you will not be able to enter into the scheme. If your home was provided to you because you are an older person or a disabled person you are also disqualified from the scheme. If you are being evicted or have declared yourself bankrupt you cannot apply for Right to Buy.
How do I Apply for the Right to Buy scheme?
If you do qualify for the scheme and you would like to apply you should contact your local council and inform them of your interest. Alternatively you can visit the Government site www.gov.uk and download a form. Once you have applied for the Right to Buy scheme your local council will send you a letter stating the discount you would receive and the cost they will sell it at.
The Right to Buy scheme has been praised for helping thousands of council tenants to get on the property ladder and put an end to renting. If you are interested in buying your house and you have lived in it for a number of years contact your local council and take the first step to home ownership.
Could someone let me know what the reason is behind the house has to be after 1997, I have not found anywhere as to why this date is very important, as when I asked my housing association to be able to purchase our home, they said it cannot be sold due to the clause in the year, as they bought it prior to 1997.
Hope everyone is well.
Needed a bit of guidance for the following situation:
My parent have been tenants with the Local Council for approx. 34 years.
I was just think of my parents aging and the state and cost of elderly care (i.e abuse/overpriced) and decided that if I could purchase the property I could prevent them from being forced into uncomfortable accommodation and substandard care etc.
I have my brothers and sisters who live separately in their own homes, kids, mortgages etc who help out with my parents needs at present. However. my parents are not getting any younger.
Initially from the research I had done I assumed that only my income/age etc would be asked for on a RTB mortgage as I am the only one financing it.
However today, I spoke to somebody at Santander who said he would have to take my father's details too and his pension into account as his name is on the RTB form as using his RTB and as such returned with a reduced borrowing amount and shortened length of 8 years. I asked for a 25 year mortgage.
My question is have I done the initial RTB forms incorrectly or something. I stated I would be sharing the RTB but was not a named tenant but have been living in the property since birth.
Any advice/signposting would be appreciated, and any prattle will just be ignored as I know RTB is a bit of a controversial topic.
Associations to come in to effect
Do not have much savings for a deposit. Want to know how I go about registering for the government partnership scheme? Looking at properties in Norwich around £110K.
Ask Affordable Home Advice a question
Ask our editorial team a question and we will reply with our advice. Tell us as much about your situation as you can: the more detail you give, the more useful our answer can be.
You do not need to use your real name. Please do not include your full address, phone number, email address, or the names of other people. We may edit or remove identifying details for privacy and legal reasons.
Comments are moderated before publication.