Right to Buy and Right to Acquire
Right to Buy and Right to Acquire are Government schemes that allow certain tenants of housing associations to purchase their rented property at a discounted price.
The Government has plans to extend Right to Buy to more housing association tenants and 5 Housing Associations are currently taking part in the Voluntary Right to Buy pilot. Plus Dane are not part of the pilot. Plans for the extended Right to Buy are currently being drawn up and you can find out more information here
Right to Buy, Preserved Right to Buy & the Right to Acquire
The majority of Plus Dane tenants do not have Right to Buy. Depending on your tenancy and how or when your rented home was built, some tenants may have the Preserved Right to Buy or Right to Acquire their home at a discount.
Preserved Right to Buy
If you qualify for Right to Buy, you may receive up to 70% discount off the market value of your home, up to a maximum of £77,000. The amount of discount will depend on the length of your tenancy history.
To find out whether you are eligible to purchase your home through these schemes, please visit http://righttobuy.communities.gov.uk where you can see if you may be eligible, contact us.
The government's Right to Buy Agent Service also offers free and impartial advice on Right to Buy. Their advisors can also help you through the process.
Right to Acquire
If you qualify for the Right to Acquire, you may receive a set discount amount of either £9,000 or £10,000 (depending on the area where you live) off the market value of your home, regardless of how long you have been a tenant.
Your property must have been built, bought or transferred to Plus Dane after the 1st April 1997 and meet certain funding criteria in order to qualify for the scheme.