Right to buy mortgages

Right to buy mortgages

What does 'Right to buy' mean?

If you're a council tenant, you may have the RIGHT to buy the home you live in.

If you qualify for the government's Right to buy scheme, your home is likely to be a lot cheaper than you think. You'll be able to buy it for a price that's way below its market value.

The longer you've been a council tenant, the bigger the discount you'll get. The rules are different in different parts of the UK, but most people get between £16,000 and £38,000 off.

Do I qualify for Right to buy?

If you became a council tenant after 18 January 2005, you'll have the Right to buy once you've been a secure tenant for 5 years.

If you became a council tenant before 18 January 2005, you'll have the Right to buy if you've been a secure tenant for 2 years.

The rules are slightly different for people in different parts of the UK. For free expert advice, speak to All About Money.

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