Right To Sell In Suffolk
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The Right to Buy scheme is a policy in the United Kingdom, with the exception of Scotland since 1 August 2016 and Wales from 26 January 2019, which gives secure tenants of councils and some housing associations the legal right to buy, at a large discount, the council house they are living in.
Right to Buy (RTB) is a statutory instrument available to our customers who hold a tenancy which allows them to buy their home with a discount. The Right to Acquire (RTA) is a scheme for housing association tenants to enable them to buy their own home, also at a discount.
Following the government's review of Right to Buy discounts, maximum discounts will be reduced to £16,000 from 21 November 2024. Applications for the Right to Buy received before 21 November 2024 from eligible tenants will be eligible for the current maximum discount of £136,400.
Reselling the property You'll have to repay some or all of the discount if you sell your home within 5 years of buying it. If you sell within 10 years, you must offer the property back to the council or a housing association before you can sell it on the open market.
The Right to Buy scheme is a policy in the United Kingdom, with the exception of Scotland since 1 August 2016 and Wales from 26 January 2019, which gives secure tenants of councils and some housing associations the legal right to buy, at a large discount, the council house they are living in.
If you applied to buy your home before 21 November 2024 The maximum discount you can get is whichever of the following is lower: 70% of the value of your property. £136,400 if your home is in a London borough. £102,400 if your home is outside London.
A building or other land is an asset of community value if its main use has recently been, or is presently used, to further the social wellbeing or social interest of the local community and could do so in the future. The Localism Act states that social interests' include cultural, recreational and sporting interests.
