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Right to Buy

In order to qualify for the Right to Buy scheme, you will need to have been a public sector tenant for a minimum of 3 years.

Changes to the Right to Buy as of May 2015

The Government made changes to the legislation governing the Right to Buy scheme. The qualifying years were reduced from 5 to 3 years effective from 26 May 2015.

This means tenants with 3 years' public sector tenancy (who meet other eligibility criteria) could qualify for the Right to Buy.

The calculation of the discount remains the same and tenants will only be entitled to any additional discount from the 6th year onwards. This means if you are buying a flat the discount calculation is set at 50% between year 3 and 5 of your tenancy. You will only be entitled to an additional discount once you have completed a total of 6 years public sector tenancy.

The same applies if you’re buying a house but the discount is calculated at 35% between year 3 and 5 of your tenancy.

The current maximum cash discount is £103,900 (for claims submitted after 6 April 2015).

You will need to carry out your own research in order to make an informed decision. You can contact the Right to Buy Agent service on 0300 123 0913 who offer free advice and signposting to financial and legal advice.

You can download an application form from the Government's Right to Buy website. Please print the application form, as it must be signed and returned to:

Housing & Modernisation
Right to Buy Team
PO BOX 64529
London
SE1P 5LX

 

If you need to discuss your application in person it is advisable to make an appointment with a right to buy officer on 020 7525 7850.

Social homebuy

Social homebuy is an alternative to right to buy and allows you to acquire your home on a shared ownership basis. This means you can buy some of the equity in the property but pay rent on the share that you do not own, allowing you to get closer to full ownership. You will also get a discount on the purchase price.

As with right to buy, you will still need to have been a council tenant for a minimum of 2 years if your tenancy started before January 18 2005 or 3 years if your first tenancy started after that date.

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Right To Buy

Tel: 020 7525 7850

Email:

 

Contact us

Southwark Council
PO BOX 64529
London SE1P 5LX

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