Most councils/registered providers will prefer to use a standard form transfer or lease for properties they sell under the Right to Buy scheme.
If you’re a registered provider dealing with Right to Buy sales, we can help you.
The Right to Buy Scheme
Selling properties under the Right to Buy scheme is slightly different to a normal residential transaction. The Housing Act 1985 governs the Right to Buy scheme and it is important to have a lawyer who is familiar with the relevant provisions.
We have a great deal of experience when it comes to drafting these documents and ensuring they are compliant with the relevant statutes. We are often asked to advise registered providers on various issues relating to the Housing Act 1985 before an application for Right to Buy has been granted, such as whether a tenant is eligible or not.
We deal with a large number of Right to Buy sales for registered providers and we will ensure that every sale progresses as smoothly as possible and that you are kept regularly updated.
What is Right to Buy?
Right to Buy is a government scheme in which most council and ex-council tenants and some registered provider tenants can purchase their home at a discount. The discount a tenant receives will depend on how long they have been living at the property, whether they are living in a flat or a house, and the value of their home.
Can you apply?
You need to be a secure tenant and have lived in your home for 3 years in order to apply – your housing officer should be able to confirm whether you are a secure tenant or not.
It is important to remember that if you sell your home within 5 years of buying under Right to Buy you will usually have to repay some or all of the discount you received.
How can we help?
If your application for Right to Buy is successful, you may wish to instruct a lawyer to deal with your purchase. It is helpful if your lawyer is familiar with the Right to Buy scheme and the process involved as you will need someone to guide you through each step and highlight the important information that you need to be aware of. Our team at Tozers deal with Right to Buy transactions with various councils and registered providers and are up to speed with all of the ins and outs of the relevant law. We will deal with your purchase quickly and efficiently to help you complete as soon as possible.