About Right to Buy conveyancing solicitors
What is the Right to Buy scheme?
The Right to Buy scheme allows certain council or housing association tenants to buy the property they’ve been renting and living in at a discounted rate. The scheme opens the door to owning your own property if you have been living in social housing for a long period of time.
You can make an application alone, or you can make a joint application to buy a property under the Right to Buy scheme, but you must have been a tenant for a minimum period of 3 years.
You may not purchase property under the Right to Buy scheme if:
- The property you’re wishing to buy is not your main home
- You have been declared bankrupt or you have outstanding debts
- You have been evicted from the property
- The property is not self-contained
Going through the buying process under this scheme can be complicated, so if you are buying your home through the Right to Buy scheme, you will likely need the support from specialist Right to Buy solicitors.
Our specialist Right to Buy conveyancing solicitors have helped many council or housing association tenants to purchase their home through the Right to Buy scheme, and they can help you too.
What Right to Buy discount am I entitled to?
The Right to Buy discount you are entitled to will be calculated keeping two main factors in mind.
Firstly, the longer you have been a tenant in the property, the higher the discount will be. Secondly, the discount applied will depend on if you are buying a flat or a house.
If you have been in a house for 3 to 5 years, your discount will be 35%, and if you have been in a flat for 3 to 5 years, your discount will be 50%. For each further year as a tenant you will get a 1% increase on your discount if you are a in a house and a 2% increase if you are in a flat.
Right to Buy discounts increase yearly in the month of April, in line with movement in the Consumer Price Index, otherwise known as the CPI. It is best to check with the council/housing association as the rules can change from time to time.
Our Right to Buy conveyancing solicitors will be able to help you understand how your discount will be calculated.
Applying for the Right to Buy scheme
Before you apply to buy through the Right to Buy scheme you must first assess if you are able to afford the purchase. You can calculate how much the purchase price for your home will be with the above information and set out an estimate as to what additional costs you must keep in mind, including costs for conveyancing. We can provide you with a quote from our Right to Buy conveyancing solicitors if you wish to know exactly what you can expect.
When you are ready to apply for the Right to Buy scheme you first start by filling in the RTB1 application form, which you can easily do online.
Your landlord will receive your application form, and must respond to you within four weeks of receiving your application, or eight weeks if they’ve been your landlord for under three years. If they reject your application and say no to selling you the property, they have give you a clear reason why. If they don’t respond to you within the time limit you may be able to receive an additional discount.
If your landlord agrees to sell you the property, they will send you an offer within eight weeks of saying yes if you’re buying a freehold property, and twelve weeks if you’re buying a leasehold property.
Once a sale has been agreed, the conveyancing process starts. Our Right to Buy solicitors will walk you through all the steps in the conveyancing process and help you complete the purchase.
About your Right to Buy offer
What an offer letter from your landlord should contain
After you have requested the Right to Buy your property from your landlord and if you meet the correct requirements then your landlord will likely make you an offer.
If they do, the offer letter will show the following information:
- The price of the property and how that price was calculated
- The discount applied to the price and how that discount was calculated
- A clear description of the land and property you are applying to buy
- Any known problems with the structure of the property
- An estimate of the service charges for the next five years (for flats and apartments only)
After you receive your offer from the landlord you then have up to twelve weeks to make a decision. If you don’t reply to the offer in time, it will expire and you will need to request a new offer. Our Right to Buy conveyancing solicitors can help you to understand your offer and proceed with the purchase.
If you wish to Appeal the offer
You may not be happy with the offer your landlord has given you and believe that certain calculations and prices are incorrect.
If this happens to you then you can request an independent valuation completed by a valuer from HM Revenue and Customs. They will come to visit the property and assess the value of the property, which will then be the basis of your new offer.
If you are denied the ability to buy due to reasons other than not meeting the eligibility requirements you may also be able to appeal. An example of this might be if you were denied the Right to Buy because the property is only suitable for elderly people.
Our Right to Buy solicitors
How our Right to Buy conveyancing solicitors can help you
We can help you with any aspect of your Right to Buy conveyancing process. We know how exciting buying your home is and want you to enjoy every single step, so we will make sure that we keep the process simple and stress-free.
We can guide you through the buying process with ease and manage all communication for you.
Our Right to Buy solicitors will be by your side to support you throughout the process, and will make sure that you’re happy with every decision made.
If you want to instruct us, or find out more about how we can support you, get in touch.
Starting the process couldn’t be more simple!
- Contact us Get in touch however suits you best and arrange a consulation with one of our solicitors
- Meet an expert You’ll meet the expert solicitor assigned to your case and discuss all the necessary details
- Authorise Once we’ve got all the details of your case and you’re happy to proceed, just give us the go-ahead
- We get to work It’s time for us to get to work! We’ll set up your file on our system and get to work right away
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