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Right to buy Discount

The valuation of your home will be dependent on a variety of factors such as the nature of your home, the location, and the current housing market

Discount increased from 21 July 2014  

The price paid for your home will reflect a discount on the market value. The discount reflects how long you have held a public sector tenancy but is subject to a maximum discount of £77,900 from 1st April 2015.

From 26 May 2015 you will have the Right to Buy with 3 or 4 years tenancy and receive 35% discount for a house and 50% discount for a flat

Important notice

Discount given for the Right to Buy is attached to the tenants who purchased the property. If it is repossessed and you move to another property, the Council has the right to ask for any discount which remains unpaid. The Housing Act 2004 emphasises that the Council has a discretion whether or not to demand repayment of the full amount of the discount. However, not to recover the full amount due has implications for public funds. Therefore, it is anticipated that the Council will only exercise its discretion in exceptional circumstances where there is clear and objective evidence for the reasons why the discount should not be repaid in full. Further information on the discretionary powers on repayment of discount is available is available from the Council's Right to Buy Officer.

Subject to the maximum discount of £77,900, (from 1st April 2015) the discount will reflect the following:

Example of discounts for a house valued at £90,000 and flat valued at £50,000

 

For tenancies which commenced on or after 18 January 2005 the discount would be:

House - after the minimum qualifying period of five years you would be entitled to a 35% discount. You are eligible for 1% more discount for each additional year you have been a tenant, up to a maximum of 70% for 40 years tenancy.

From 26 May 2015 you will have the Right to Buy with 3 or 4 years tenancy and receive 35% discount for a house and 50% discount for a flat

Flat or maisonette - after the minimum qualifying period you would be entitled to a 50% discount. You are eligible for 2% more discount for each additional year you have been a tenant, up to a maximum of 70%.

If you have previously bought a property under the Right to Buy, this will affect the amount of discount you will receive if you apply again on another property.