Right To Buy/Right to Acquire

Right to Buy is a scheme in England that allows most council home tenants, as well as some housing association tenants, to buy their council property at a discount.


Right to buy/Right to acquire

You could buy your house with a no deposit mortgage if you’ve had a public sector landlord for at least three years. For example, a council, housing association or NHS trust. This doesn’t have to be three years in a row).

The discount is based on:

  • how long you’ve been a tenant
  • the type of property you’re buying – a flat or house
  • the value of your home

If you’re buying with someone else, you count the years of whoever’s been a public sector tenant the longest.

You’ll usually have to repay some or all your discount if you sell your home within 5 years.

Right to buy mortgages

A right to buy mortgage works slightly differently to a normal mortgage as no deposit is required to buy the property. The discount from the council or housing association is used as the deposit and with some lenders you may even be able to borrow a bit extra to do home improvements.

If you have already been offered the chance to buy your property and know the value and the discount you have been offered then you can start the mortgage application process straight away.

If you’ve not received your right to buy papers yet then you will need to wait until you have these before starting the mortgage application process. However we can work out your affordability to ensure that you can secure a right to buy mortgage.

For more information speak to one of our experts.

Buy your council house with the right to buy scheme

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