Buying Your Council Home
If you are a secure tenant and you have been a council or social housing tenant for three years or more, you may have the Right To Buy. The three years can be built up over time using a number of tenancies and with gaps in between.
Buying a flat or maisonette
If you use your Right to Buy, you will become a leaseholder. As a leaseholder, you will own rights to your home for the period of the lease. The lease will be for 125 years. Some leases may include rights to a garden and or a shed, but all leases are different.
If you buy your flat or maisonette, the building your home is in will remain the property of the council. You will have to pay ground rent of £10 a year and for any services provided by the council or Wolverhampton Homes, such as repairs and improvements to the building, grass cutting and window cleaning.
Buying a house
If you live in a house and you decide to use your Right to Buy, you will become a freeholder. This means that you buy your house and the land it's built on and you will be entirely responsible for your home, including all repairs and maintenance.
Some properties, such as bungalows, may not be included in the Right to Buy.
What discount can I get?
The Right to Buy discount is based on:
- how long you’ve been a tenant with a public sector landlord
- the type of property you’re buying - a flat or house
- the value of your home
The longer you have been a tenant, the higher your discount will be; the maximum discount is 70% and the discount is currently capped at £78,600. (It increases each year, in April, in line with the consumer price index.)
The Right to Buy discount calculator will give you an idea of the discount you may be offered.
Need more information?
For more information, please visit righttobuy.gov.uk
If you have any questions or would like to apply for the Right to Buy, please contact us.
- Last Updated: Wednesday, 03 January 2018 17:19