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Voluntary Right to Buy

February 15, 2017

The Government has not yet announced the rules which will apply to the Right to Buy (RTB) for housing association tenants.

When they do, we will put the details on our website and we will brief our staff.

The Government has a website with helpful information. https://righttobuy.communities.gov.uk/am-I-eligible/housing-association-tenants/.

There is information here about getting a mortgage and how to compare the costs of home-ownership with being a tenant.

The Government ran a “pilot scheme” with five housing associations (not including Hexagon) in 2016. The rules were:

  1. Eligibility – tenants must have held a social housing tenancy for 10 years or more (housing association or council)
  2. Exemptions – some properties may be exempt e.g. those built under “section 106” agreements (Agreements on developers for the provision of affordable housing, usually as part of a larger scheme)
  3. Discounts – will be linked to the length of tenancy and will be like the local authority RTB discounts
  4. Applicants have to pay an up-front fee of £250, repayable when they complete their purchase

The Government has announced since that they will do an expanded regional Voluntary Right to Buy pilot, but no details have been announced yet.

If you are considering buying your home, you will need to consider its likely value on the open market.  This can be done by using websites like Zoopla (www.zoopla.co.uk ) and Rightmove (www.rightmove.co.uk)

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