As a registered social landlord with charitable status, most of our homes are exempt from the Government’s Right to Buy scheme. However, there are some exceptions, and we know that many of our customers are interested in owning their home.
How can I buy my rented home?
If you’re eligible, we can help you to buy your rented home through three different schemes called Preserved Right to Buy, Right to Acquire, and Right to Shared Ownership. These schemes are different and may not be available to every customer, so please take a look at our guide to learn more.
Some of our homes were transferred to us from local authorities (councils). If you live in one of these homes and had a tenancy agreement with the local authority at the time of the transfer, have taken over a tenancy of this nature and are still living in the home (succession), or have transferred to one of our other homes, you may be eligible for a Preserved Right to Buy.
You can also find out more about Preserved Right to Buy by visiting the Government’s website.
If you do not quality for Right to Buy, you may qualify for an alternative scheme called the Right to Acquire. Under this scheme, you might be able to buy your home at a discount.
You may qualify to apply through the Right to Acquire scheme if either of the following apply:
- your home was bought or built by a housing association on or after 1st April 1997
- your home was transferred from a local authority to housing association on or after 1st April 1997
You can find out more about the requirements you need to meet to qualify for Right to Acquire by visiting the Government’s website.
If your home was built using funds from the Governments’ Affordable Homes Programme, you may be able to buy a percentage of your home. To qualify for this scheme:
- the property must have been built between 2021 and 2026 using grant funding
- the property must be your main or only home
- you must have lived in the property for at least one year
You can find out more about Right to Shared Ownership by visiting the Government’s website.
Costs to consider
If you are eligible to purchase your home under one of these schemes, you will need to pay some initial one-off fees. We’ve included a breakdown below of the things you will need to consider the costs of before you start this process.
You should also consider the ongoing costs associated with owning a home, such as mortgage repayments, buildings and contents insurance, service charges and rent (if purchasing through Shared Ownership), as well as internal and external repairs and maintenance.
You will need a solicitor to represent you if you decide to buy. You can find a solicitor by visiting The Law Society’s website.
We recommend that you arrange for an independent survey of the property to be carried out before you buy it. Your mortgage company will also want to arrange a survey, and they will charge you a fee for this.
You can find a surveyor on the Royal Institution of Chartered Surveyors (RICS) website.
Your mortgage provider will apply fees for arranging and setting up a mortgage. You can check that the mortgage provider you are using is properly registered by visiting the Financial Conduct Authority (FCA)’s website.
When you purchase your home, you will need register this with the Land Registry and fees apply. These fees may be included in your legal fees, but always double check.
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England. This is a one-off payment to the Government, and more information can be found on their website.
Get in touch
As the rules around eligibility for Preserved Right to Buy, Right to Acquire and Right to Shared Ownership can be complicated, please get in touch with us before you apply.