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Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

right to buy


The mortgage monkey Ltd makes every attempt to ensure the accuracy and reliability of the information stored on and accessible from this web site. However, information on this subject is intended as a general guide and should not be relied upon as a substitute for formal advice from individual right to buy landlords regarding their procedures and policies.

The 1981 Housing Act granted council tenants the right to buy the property they live in from their local authority, housing association or housing action trust landlord. Usually, a qualifying right to buy property will be sold by the landlord to the tenant at a lower price than the normal market value. This is because a discount is offered to the tenant. Generally speaking, the longer the tenant has occupied the property, the greater the discount offered by the landlord as much as 60 or 70% in some cases. However, due to the very high take-up of the scheme in the early years, and concern over the affect on the tax payer, in 1999, cash limits were imposed on the levels of discount offered. These limits were set on a regional basis, reflecting the overall differences in house prices around the country (eg: they were higher in the South East than in the East Midlands).

To qualify for a right to buy you must:

Be the legal tenant of the property you wish to purchase.

Have been a tenant of a council or another right to buy landlord for at least two years.

Before you buy your council home
Buying your own home is probably the biggest financial decision you will ever make. If you decide to exercise your right to buy, you will become responsible for all the costs of maintaining your home, including repairs (major & minor/general) and any improvements to may wish to make to it (eg: decorating, new windows, etc). As a tenant you may be claiming some State benefits to help with the rent. As an owner-occupier its likely that these benefits would cease or be reduced. There are generally two different types of the right to buy scheme (NB: the options offered by individual landlords may vary):
You can buy your home outright by paying the full purchase price (less any applicable discounts offered by the landlord).

You can use the Rent To Mortgage scheme if you want to buy your home, but can't afford to pay for it all at once.

Reselling your home after buying under the Right to Buy You may sell your home whenever you like. However, if you sell within a certain time of buying the property, you will usually have to repay some or all of the discount that you received. A typical example of this would be:

During the first year, you must repay all the discount

During the second year, you must repay two thirds of the discount

During the third year, one third must be repaid.

After three years you can sell without repaying any discount. Although The mortgage monkey has access to thousands of mortgage products, the number of mortgages available to right to buy borrowers is comparatively small.

Right to buy mortgages are still a specialist product, but the good news is that the range of products is growing, and you can be assured that our experienced mortgage consultants will work with you to find the best mortgage to fit your circumstances.

Buying your own home can be a complicated process at the best of times, so our consultants will see the mortgage process through with you, liasing with lenders, solicitors, surveyors, etc. with the aim of making things as stress-free as possible.

The overall cost for comparison is 6.4% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.


Your home may be repossessed if you do not keep up repayments on your mortgage.

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