Right to Buy
The Right to Buy was brought in by the Conservative Government in 1980 as part of a controversial political decision to sell council houses to their tenants. It has now become established practice by political parties of all persuasions.
You can buy your home by paying the full purchase price at once with discounts ranging from 32% to 70% depending on how many years you have spent as a public sector tenant - but subject to a maximum discount limit for the area you live in. In the West Midlands the current maximum discount is £26,000.
The Right to Buy has gone through many changes over the past 25 years and whether you qualify to buy your home will depend on many factors. At Wright Hassall we have huge experience in dealing with all aspects of the Right to Buy, not only from a tenant’s perspective but also from a landlord’s perspective and so we are well qualified to advise you on all aspects of your intended purchase.
Right to Acquire
The Right to Acquire was brought in in 1996 and gives eligible Housing Association tenants a statutory right to purchase the property in which they live at a discount, generally between £9,000 - £16,000 depending on the local authority area in which the property is located.
The Right to Acquire only applies to properties built or acquired by Housing Associations, with public funds from 1 April 1997 onwards.
