Right to Buy

Right to Buy

The Right to Buy scheme enables tenants to purchase the property they live in at a price that is cheaper than the market value. Tenants seeking to exercise their Right to Buy are entitled to a discount which increases with the length of time they have been a tenant with a social landlord (this includes other Housing Association and Local Authority tenancies).

Tenants can receive up to 70% discount off the market value but, whatever percentage tenants are eligible for, the discount cannot be greater than £84,600. This amount will increase every year on the 6th of April in line with the Consumer Prices Index (CPI).

The Right to Buy usually applies to tenants with a ‘secure tenancy’, however, most housing association tenants are ‘assured tenants’. Although assured tenants have high security of tenure and effectively operate as a tenancy for life, they do not have the Right to Buy.

However, there are some circumstances where the Right to Buy does apply to Prima tenants:

• If you were a secure council tenant and were living in your home when it was transferred from your council to another landlord, like a housing association, then you may have a ‘Preserved Right to Buy’.

• If you have a secure tenancy that started before 15 January 1989 then you may have the Right to Buy. Tenancies starting after this date are likely to be assured.

If you are eligible for the Right to Buy then you can apply using the forms below.

Right to Acquire

Assured tenants may benefit from rights such as the Right to Acquire which is similar to the Right to Buy scheme.

Tenants who live in Prima Group properties may have the right to purchase their homes under the Right to Acquire scheme if their home was either:

• built or purchased by a housing association after 31 March 1997 (and funded through a social housing grant provided by the Housing Corporation or local council)

• transferred from a local council to a housing association after 31 March 1997

Right to Acquire enables tenants to purchase their home with a flat-rate discount. If you are an assured tenant that has been a public sector tenant (Housing Association or Council) for at least three years and your property falls into either of the above categories, then you may have the Right to Acquire your home.

The discounts for this scheme are fixed amounts published by the government and depend upon where tenants live. The flat-rate discount for Merseyside is currently £9,000, regardless of the number of years you have been a tenant.

Voluntary Right to Buy

You have probably heard about the Voluntary Right to Buy scheme, so if you don’t currently have the Right to Buy you might in the future. The Government, alongside the National Housing Federation, is still working through the details of how the Voluntary Right to Buy scheme will be delivered. More details will be announced in due course and further information can be found here.