Buying your rented home
Buying your rented home
If you are an assured tenant of Together Housing you may have the right to buy your home under the Preserved Right to Buy scheme or the Right to Acquire scheme depending on when your tenancy started and how long you have been a tenant
Please note that not all tenants are eligible to apply to buy and some properties are exempt.
Preserved Right to Buy
If you were a secure Council tenant living in your home when it was transferred to the Housing Association then you may have the Preserved Right to Buy. This only applies if you have been a tenant continuously since that time with no breaks in your tenancy.
The longer you have been a tenant, the more discount you may get up to a maximum of 70% or £77,900 (whichever is lower). The discount is based on how long you have been a tenant, the type of property you are buying and the value of your home.
Right to Acquire
If you are not eligible for the Preserved Right to Buy you may be able to buy your home at a discounted price under the Right to Acquire scheme. You can apply to buy if you have been a public sector tenant for a total of at least 3 years. You don’t need to have spent this time at the same address or with the same landlord. Tenancies with other housing associations, Local Authorities, Armed Forces and certain other public bodies will count. The amount of discount is fixed by the Government and depends on where you live.
The list below shows the current discount rates for different areas of Together Housing.
|Blackburn & Darwen||£9000||Bradford||£9000|
|East Riding of Yorkshire||£9000||Hambleton||£10000|
|Harrogate||£11000||Kingston upon Hull||£9000|
|North East Lincolnshire||£9000||North Lincolnshire||£9000|
Some frequently asked questions about the Right to Buy and Right to Acquire can be found below.
- Can I make a joint application with other members of my family?
Yes, any member of your family who is a joint tenant can buy with you. You can also buy in joint names with up to three family members who are not tenants as long as the property is their main home and they have lived with you for 12 months before you apply to buy.
- Can my children buy my home for me?
Family members can give you the money to buy your home but family members who do not live with you will not be included in the transfer documentation.
- Can I apply to buy if I am on benefits?
Being on benefits does not affect your legal right to buy but you will need to make sure that you can afford your monthly repayments and take time to work out all the costs involved. You will not be eligible for housing benefit if you become a homeowner.
- Can I apply to buy if I have rent arrears?
Yes you can still apply to buy but your rent account must be clear on the day of completion. However, you do not have the right to buy if the court has made a possession order.
- If I apply to buy will I still get repairs to my home?
Once you apply to buy you will only be entitled to essential and emergency repairs. If your property is a house you will not be included in any major works programmes and if you complete the sale you will be responsible for any repairs needed to your home. If your application is withdrawn then you will be able to access the normal repairs service. If your property is a flat we will not carry out any works inside the property but we are still responsible for maintaining the exterior of the block.
- How much will my home cost to buy?
Every property is valued on an individual basis according to market value at the time you apply to buy. Any improvements you have carried out yourself will not be included in the valuation. A valuer will call once your application has been accepted and there is no charge for this valuation to be carried out.
- What can I do if I do not agree with your valuation?
You can appeal against our valuation and request a determination of value by the District Valuer. This is an independent valuation and is free of charge. The District Valuer’s decision is final.
- Can I cancel my application if I change my mind?
Yes, you can cancel your application at any stage of the process. If you wish to withdraw from the purchase you must let us know in writing.
- How do I find a mortgage?
You are responsible for how you finance your purchase and we cannot advise you on this or recommend a specific mortgage or lender. It pays to do your research and look at all the costs involved. You should talk to a mortgage lender/broker or an independent financial advisor to find a mortgage that best suits your needs but always check the costs and fees.
- What happens if I have purchased before?
If you have purchased under the Right to Buy or Right to Acquire scheme before, the amount of discount you got then will usually be deducted from your discount when you buy again.
- Can I sell my home later?
You can sell your home whenever you like but if you sell within the first five years you will have to pay back all or part of the discount you received. Any discount to be repaid will be calculated on the current resale value of your home disregarding any improvements you have carried out yourself. All of the discount will have to be repaid in the first year after purchase. Four fifths is repayable in the second year, three fifths in the third year, two fifths in the fourth year and one fifth in the fifth year. Also you must offer us first refusal if you sell the property within 10 years.
The Government has plans to extend the Right to Buy to more housing association tenants. These plans are currently being developed and we do not know any details yet. Visit righttobuy.gov.uk where you can sign up to be kept informed about progress.
Buying your home is probably the biggest financial decision you will make so please take time to read the booklets which outline all costs and considerations and will help you decide whether purchasing your home is the right choice for you.
If you would like any further information or advice our Sales Team will be pleased to help: