Council Right to Buy

Right to Buy Mortgages

The first Council Tenants’ Right to Buy scheme was introduced during 1980 by means of the 1980 Housing Act. This was further developed in an update to the Housing Act in 1984.

The Council Right To Buy scheme, gives many tenants living in local authority properties the right to purchase them at a discounted value.

You can apply for Right to Buy if you’ve been a council or public sector tenant for five years (it doesn’t have to be five years in a row). You are a public sector tenant if you have lived in properties provided by a housing association, the armed services or a public body like an NHS trust.


What Level of Discount Do You Qualify For?

If you qualify for Right to Buy, you can get a discount on the market value of your home when you buy it. The discount is based on:

  • how long you have been a tenant
  • where you live
  • the type of property you’re buying (a flat or a house)

The discount is calculated as a percentage of the property value based on how many years the tenant has lived in the property and whether the property is a house or flat. The value of the discount is subject to a regional maximum ranging between £16,000 to £38,000.

You may not need a deposit as the discount may be used for that purpose.


How can we help?

Right to Buy mortgages, sometimes referred to as the council purchase mortgages, are a means of raising the necessary finance to purchase the property.

Why not call us on 01223 329666 to discuss your requirements and request a quotation.

The actual interest rates available will depend upon your circumstances. Please ask for a personalised illustration.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of £495 is payable upon completion of your mortgage. A fee only option of 1% of the loan amount, payable upon completion, is also available. 

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