Right to buy discount repayment exemptions
What if you disagree with the offer?
Tenants across England can get up to 77,900 off the cost of buying their council home through the scheme.
The maximum discount available through the Right to Buy scheme has increased to 77,900 for properties across England (103,900 in London boroughs).
This calculator can be used as a myunique promo code rough guide to help you work out the discount you may be eligible for under the current Right to Buy scheme.However, if you live in an ex-council house that was sold to another landlord, a "Preserved Right to Buy" may still apply.Fill in this form Send it to your landlord.Well send you a link to a feedback form.On top of this, the amount you pay back depends on the value of your home when you sell.There are a few issues you will want to think about before buying your council home.
You can apply jointly with someone you share your tenancy with or one to three family members who have lived with you in the past year.
Many lenders offer mortgages specifically tailored to Right to Buy applicants, although you should carefully consider all you different options when looking for the best mortgage.If you sell within the first year, youll have to pay back all of the discount.If your property is part of a block you may have to pay a contribution to any works the Council decides to do to shared or common areas.So if you sold it 30 months after purchase you would repay 60 of 44,000.This will contain a formal valuation of your property including the price you will be expected to pay.Once you receive your Section 125 notice you will have 12 weeks to accept the offer or reject it and continue renting your home.Your offer If your application has been accepted your landlord will set out in writing: How much they think you should pay and how the figure was worked out A description of the property and any land that is included Estimates of any service charges.The Real Costs, if you are buying a leasehold property there will be on-going maintenance costs to consider.