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Can I Buy My Council House UPDATED



Local authority tenants who qualify for this scheme can buy their homes at adiscounted rate from the local authority. This scheme is for the purchase ofexisting local authority houses. It opened on 1 January 2016 and replaced theprevious Tenant Purchase Scheme 1995.




can i buy my council house



You will get a discount of 40% to 60% off the purchase price of the house.The level of the discount you get depends on your income. The local authoritywill put an incremental purchase charge on your house. This charge is equal tothe discount you got on the price of the house. This charge will be reduced by2% each year, until no charge remains after a specified number of years. Thisapplies unless you resell the house, or break the terms and conditions ofscheme during this specified period (20, 25 or 30 years).


The sale of an apartment follows the same incremental purchase model asoutlined above. There are discounts of 40%, 50% or 60% off the purchase price,depending on household income. There is also an incremental purchase chargeapplied by the local authority, which reduces by a set amount each year.


An IncrementalPurchase Scheme for newly built houses began in June 2010. This schemeallows people who qualify for social housing (including existing social housingtenants) to buy designated newly built houses from a local authority orapproved housing body at a discount. It does not apply to apartments, flats orexisting local authority houses.


The 1995 scheme is closed for new applicants. If you bought a house underthis scheme and want to sell the house within 20 years of the date you boughtit, or before you have acquired full ownership, you must get the agreement ofthe local authority.


The maximum amount depends on whether your council house is in London or another part of England. If you live in London, the biggest discount you can receive (as of April 2021) is 112,800, while, elsewhere in England, this maximum is capped at 84,600. These figures increase in April every year in line with inflation.


You will be able to resell your house at any time if your local authority agrees. However, if you sell before the end of the 20, 25 or 30 years, you will have to pay back the value of the outstanding charge on your house to your local authority.


The Housing (Sale of Local Authority Houses) Regulations 2015, sets out the conditions for the sale of local authority houses. This was amended on 12 January 2022, Housing (Sale of Local Authority Houses) (Amendment) Regulations 2021.


Tenants don't always get good advice when they ask companies or other people for help with buying their council home. Sometimes tenants pay a lot of money for things that you can get for free. If a person or company offers to help you to buy your council home, find out what's in it for them.


Please include the years you have been a council/ housing association tenant,not just your years in the current property. The longer you have been a tenant, the more discountyou can get on the value of your home.Find out more information on discount levels.


Under the Scheme, a tenant of Cork County Council pays the authority a discounted price related to his or her income in order to purchase the house. On completion of the sale, the authority places an Incremental Purchase Charge on the house of the proportion of its value equal to the discount.


If you are a secure council tenant and have the right to buy, you can buy your home at a discount to the full market price unless the cost floor rule applies - we will arrange for your home to be valued. Your discount is based on the number of years that you have been a public sector tenant.


The discount starts at 35% for houses and 50% for flats and maisonettes. The discount rises by 1% per year for houses and 2% per year for flats and maisonettes (after the qualifying period) to a maximum of 70% for houses, flats and maisonettes. Tenants with 3,4 or 5 years of tenancy get a 35% discount for houses, and 50% discount for flats. Whatever percentage discount you are eligible for, you can not receive more than 87,200 discount for applications received in 2022/23 as this is the maximum available under the scheme.


If you qualify for the right to buy scheme we will let you know in writing the valuation of your property, the discount you are entitled to and how much you can buy your property for, within 12 weeks of your application for a house or within 16 weeks for a flat or maisonette. You can then decide whether to proceed with the purchase or not.


The maximum discount that you can qualify for to buy your council home is 87,200 for applications received in 2022/23. This means that if you qualify for a discount on the purchase price of your council home of more than 87,200, the amount of discount you receive will be limited to (or capped at) 87,200.


If you applied to buy your home under the right to buy scheme in, or after, 2005 and you wish to resell or dispose of it within ten years of the purchase date, you are required to offer it back to us or to another social landlord (nominated by the council) at the full market value.


The cost floor rule may reduce the amount of discount you receive, and may apply if your home has been purchased or built by the council, or a considerable amount of money has been spent on repairing or maintaining your property, over (a maximum of) the last 15 years.


Under the cost floor rule the discount you receive must not reduce the price you pay below what has been spent on building, buying, repairing or maintaining your property. For example, if your home is valued at 150,000 and you qualify for 35% discount (52,500 discount) you would normally be able to purchase your home for 97,500. However, if the council had purchased your home in 2020 at a cost of 145,000 the cost floor rule would apply and the purchase price would be 145,000, giving you only a 5,000 discount. If the cost of the building, buying, repairing and/or maintaining of your home is greater than the valuation price you will not receive any discount.


So what is the Right To Buy scheme? This scheme is designed to allow council tenants to buy their council home at a discount. Approximately 2 million homes have been sold in this way over the last 30 years. You can use the Right to Buy calculator to work out your discount.


From 4pm on Friday 31 March until 5pm on Monday 3 April you will not be able to access your council tax, benefits or business rates accounts on MyGuildford. This is whilst we run our year end processes. We apologise for any inconvenience.


You might be able to buy your home at a discounted price if you've been renting your council or housing association home for at least three years. This is through the Right to Buy Scheme.


A council house is a form of public housing in Britain, giving families who require it a more affordable housing option. Council houses are generally built near each other alongside other facilities, like shops or schools, making up a council estate.


Council houses are built by the local authorities and will be owned by the council of your area. Council houses are more affordable because the costs are subsidised, meaning all costs including rent, ground rent, service charges etc are much lower than you would normally expect.


There is one catch when it comes to buying your council house whilst on benefits and that is that you will no longer be able to claim housing benefits, especially not if you would be claiming them to cover the mortgage costs.


As the Right to Buy scheme was introduced to help council tenants and housing association tenants have the ability to purchase the property they live in, at a BIG discount, mortgage lenders take this into account when it comes to you applying for a mortgage, allowing you to get one without the need for the deposit.


The Right to Buy scheme allows tenants to buy their council house at discounts of 84,600, or 112,800 if you live in London boroughs. Wanting to know more about the exact level of discount you can get?


Before you apply to buy your home, make sure you can afford it. Think about the future, when your circumstances may change. Bear in mind that house prices and interest rates could go down in future as well as up.


This is a scheme that allows local authority tenants to buy their homes. Under this scheme, you can apply to your local authority to buy your local authority house. If approved, you must continue to live in the house for as long as you own it.


Valuation: Each property is individually valued and if your application is admitted and the property is a house, you will receive an offer within 8 weeks from the date of the RTB2 Notice.


Section 131 of The Housing Act 1985 (as amended) states the discount shall not reduce the purchase price below the cost incurred by the council in building, purchasing or improving your dwelling. If your property has been recently built, acquired or improved, you may receive a reduced discount or in some cases no discount at all.


Some of the regular costs as well as the cost of the mortgage loan repayment and mortgage payment protection, are things such as buildings insurance, council tax, water/sewage charges, life assurance, gas, electricity, internal upkeep, external repairs/improvements. This is of course not an exhaustive list.


All documents should be sent to the buy back team using the following email address: councilhousebuyback@aberdeencity.gov.uk. Please include all contact details within the email (such as your telephone number) which we will use to arrange access to the property to complete the statutory compliance checks. Once the outcome of your application is decided, we will send the decision letter to the email address provided at the time of application. If for any reason, your contact details change during the application process, please let us know by emailing the buy back team.


Many people up and down the UK currently live in a council property. A form of affordable housing where the residents pay rent to the local authority or a housing association. However, over the past 40 years, more and more of these tenants have managed to successfully buy the property they have been renting and as a result, get a foot on the property ladder. With the properties available at a hugely discounted rate, it is a scheme that has helped many families since its inception. 041b061a72


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