Right To Buy

The 1981 Housing Act allows council tenants to buy the property they live in from the local authority.

Most Council Tenants have "the Right To Buy" their home. The right to buy means you can buy your home from a local authority, a non-charitable housing association or a housing action trust. Usually a "right to buy" mortgage will cost less than on the open market because as a tenant you can obtain a discount on the loan.

Under the right-to-buy scheme, council tenants are entitled to a discount on the value of their house after they have lived in it for two years, followed by a further deductions for each additional year, up to a maximum. For flats the available discount rises.

To qualify for a Right to buy Mortgage Loan you must:

  1. Be the legal tenant of the property you wish to purchase.
  2. Have been a tenant of this Council or another "right to buy" landlord for at least two years. You may be entitled to a discount off the purchase price of your home. The amount of discount depends on how long you have been tenant in the Council House or other "right to buy" landlord, and the type of dwelling you are living in.

Various mortgage schemes are available which allow capital raising for home improvements, and many lenders provide mortgages specifically designed for those buying their council property. MAPS Mortgages will explain the options and help you choose the one that's right for you.