Head of Content
Mortgage Advisor & Director
About the schemes
The Right to Buy scheme is for council housing qualifying tenants to buy their home at a discount.
The scheme allows qualifying tenants to buy their home at a discount, which varies on the type of property you are looking to buy as well as where you live. To qualify, tenants must have rented from the public sector for a minimum of three non-consecutive years.
The scheme is only available in England. The scheme has been abolished in Scotland and phased out in 2019 in Wales. In Northern Ireland, while the scheme is still running, the maximum discount you can receive is £24,000.
The Right to Acquire scheme is very similar, however, it applies to housing association tenants rather than council home tenants.
Eligibility and conditions
Right to Buy
- Your council home is your only home.
- It is self-contained.
- You are a secure tenant - meaning you have been granted permission to live in the property for the rest of your life.
- You have rented from the public sector for three years (non-consecutive).
- The longer you've been a public sector tenant, the bigger the discount in the purchase price.
Right to Acquire
- You can apply to buy your housing association home if you’ve had a public sector landlord for 3 years
- You are unable to apply for the scheme if you have been declared bankrupt or if the landlord has filed a possession order against you.
- The property must have been built or bought by the landlord since April 1997. If purchased from the local authority, the date moves out to April 2007.
How much discount can I get with Right to Buy and Acquire?
The amount of discount permitted is calculated based on the type and location of the property, as well as how long you have lived there.
Right to Buy
If you live in a house, you get a 35% discount if you've been a tenant for between three to five years. The discount increases by 1% for every year you've been a tenant to a maximum of 70% or £84,200 across England and £112,300 in London; whichever is lower.
if you live in a flat, there is a discount of 50% for tenants of between three to five years. After five years, the discount increases 2% annually to a maximum of 70% or £84,200 across England and £112,300 in London; whichever is lower.
Right to Acquire
You can get a discount of between £9,000 and £16,000 on the price of your property depending upon the location of the property. The table of discounts is provided here on the Right to Acquire website.
More information
Our team of experienced advisors have helped many people to secure the best deal possible on their Right to Buy and Acquire mortgages, complete our simple online form today to get started!
Find more information on the Government website.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
