What is the Right to Buy Scheme?
The Right to Buy Scheme was first introduced by the Government in 1980, as a way to help council and housing association tenants purchase their first home and get a start on the property ladder.
The scheme allows you to purchase your current home from the council at a significant discount from the value of the property, calculated based on how long you have lived there.
Am I Eligible for the Right to Buy Scheme?
Anyone living in ‘public sector’ housing, from the council, housing association or NHS, is eligible for the Right to Buy scheme after living in the property for three years. To qualify, you cannot own any other properties, or have any bankruptcy charges or creditor agreements placed against you. Your partner or spouse can also apply alongside you as a joint application, provided you have lived in the property together for the last 12 months.
What Discount will I Receive with Right to Buy?
The discount you receive will be a percentage of the property’s value, calculated based on how long you have lived in your home. The type of property you live in will also be taken into consideration, with a larger discount being offered on flats in comparison to houses.
You are entitled to a Right to Buy discount after living in your property for three years. If you live in a house, this will be 35% of the property’s value, and if you live in a flat you will receive 50%. This discount will then apply for the next two years, until you reach five years of tenancy. At this point the discount will then increase for each additional year that you live in the property going forward. This will be by 1% each year for houses and 2% for flats. You can receive a maximum discount of either 70% of the property’s value, or £82,800 (£110,500 in London), whichever is lower.
As an example, on a property valued at £100,000 which you have lived in for ten years, the discount would break down as follows:
On a house, you would be eligible for a discount of 40% (35% for the first three years, with an additional 1% for each extra year after the five year mark). This would give you a discount of £40,000, meaning you would be able to purchase the property for £60,000.
On a flat, you would be eligible for a discount of 60% (50% for the first three years, with an additional 2% for each extra year after the five year mark). This would give you a discount of £60,000, meaning you would be able to purchase the property for £40,000.
If you are unsure about what discount you may receive, the Government offers a Right to Buy calculator tool at the following link: https://righttobuy.gov.uk/right-to-buy-calculator/
Can I Sell a Right to Buy Property?
You are free to sell your property at any point, however you will be required to re-pay a portion of the discount for the first five years after completing the purchase. This starts at having to re-pay the entire amount for the first year, 80% the second, 60% the third, and so on until you reach the end of the fifth year.
After five years you are able to sell the property without having to re-pay any of the discount you received. You will, however, be obligated to offer the original landlord the right-of-first-refusal to purchase the property before placing it on the general market. This requirement will last for a period of ten years after first completing the purchase.
How Do I Apply for the Right to Buy Scheme?
You can apply for the Right to Buy Scheme by completing an application form, which can be downloaded from the Government website at the following link: https://righttobuy.gov.uk/apply/rtb-2014-form/ Once you have completed the form, you will need to send it to your Landlord, who will then have four weeks to give you a yes or no answer. If the landlord declines your application, they must give a reason why, and you are free to contest their decision.
Following the acceptance of the application, your landlord then has a deadline of 8 (for a house) or 12 (for a flat) weeks to send you a formal offer, containing the property price and discount you will receive, along with any other relevant information about service charges or other issues that may come with the property.
After receiving the offer, you then have 12 weeks to decide if you would like to proceed with the purchase or not. Once you have accepted, you still have the right to withdraw from the purchase at any time should you change your mind.
The Conveyancing Process
Once the Right to Buy purchase has been agreed, you will need to instruct a conveyancer to act on your behalf for the legal side of the process. Buying a property through Right to Buy is much the same as purchasing any other property, and follows the same processes: https://www.bannerjones.co.uk/your-property/services/buying
If you are purchasing the property using a mortgage, it is important to remember that your mortgage lender will still require all the usual searches and checks on the property, even if you feel you are familiar enough with your home to proceed without them.
Our expert conveyancing team are very experienced in dealing with Right to Buy purchases, across our offices in Chesterfield, Sheffield, Mansfield and Dronfield, and would be more than happy to help with your purchase. We work on competitive fixed fees, so you will always know exactly what you will need to pay throughout the process. If you have any queries about buying your property through Right to Buy, please do not hesitate to contact us and one of the team would be more than happy to help.
Mr & Mrs B, MansfieldGreat service from start to finish. Josh kept us updated throughout the process and was always very prompt with responses. Highly recommended.
Mr & Mrs B, ChesterfieldHouse moves are very stressful. First rate service. I was put at ease with everything and the way our move was handled. I would highly recomend Banner Jones.
Mr & Mrs H, MansfieldHollie was really great! What a great team, thank you very much!
Mrs S,SheffieldI received excellent service for the purchase of my house
Mr W, DerbyshireThanks very much Jenna. I have been very happy with Banner Jones's help in the sale of my home. Please pass on my thanks to Gemma. Best wishes.
Mr & Mrs C, HockleyHolly
Many thanks for all your help in making the sale /purchase of the above properties such a thoroughly smooth, stress free journey.
We can highly recommend your company .
Mr & Mrs J, Isle of WightHollie was excellent. They responded to all our enquires straight away and explained everything in great detail. Banner Jones offer a friendly and reliable service.
Mrs B, MatlockThank you for my Dad's house sale. We were really impressed with the service you gave. The whole process was fast, we never had to chase and you kept us up to date with everything very quickly.
Mr & Mrs B, ChesterfieldExcellent communication throughout our conveyancing process. Thank you.
Mrs S, ChesterfieldExcellent, speedy, friendly service. Assisted with all my queries and very helpful regarding issues caused by the bank holding the money.
Mrs T, ChesterfieldWill always use Banner Jones for their personal approach, friendliness, expertise and to give you satisfaction
Mr & Mrs S, Old WhittingtonHouse sale was completed without any problems and very professional.
Mrs M, WhittingtonBanner Jones was friendly, helpful, efficient and considerate. My cousin recommended them to me and I will not hesitate to use any of the services they offer when the need arises.
Mr & Mrs W, DanesmoorBuying a House
Good service.
Mrs H, MansfieldEverything went smoothly, no trouble at all. Thank you.
Mr & Mrs S, Dunham on TrentI would just like to thank you and your team for the work on our property sales and purchases. Your work definitely helped speed up the process and allowed us to complete quicker, and we will definitely recommend you.
Mrs C, ChesterfieldThe service I received couldn't have been better!
Mrs T, MontonHi Chris, hope you're well! Really pleased to say that we've finally completed on our sale and purchase :) Just wanted to drop you a quick note to say thanks for your help. Gemma worked on our case after Lisa and was absolutely brilliant! Wouldn't hesitate in recommending her. Hope you have a fab Christmas and New Year! Best wishes
Mr W, ChesterfieldJust wanted to say thank you for all your efforts with our move earlier in the year. We really appreciate your effort and help in making the move happen. Thanks again
Mr & Mrs H, UptonWould highly recommend. Very efficient, friendly and good communication. The whole process went very smoothly. Will definitely use your services again.
Mr W & Ms M, WoodseatsWe wanted to say thank you to you and your team for your smooth handling of our recent move. Your professionalism and tenacity are much appreciated, and you always made us feel reassured every step of the way.
Mr P & Miss P, ChesterfieldCouldn't have asked for a more professional, friendly and efficient service.
Mrs McC-W, MansfieldI have moved house before and I have had poor service. Both Jessica and Jade were helpful and supportive, especially when I was feeling very apprehensive.
Miss H, NewboldI also want to say thank you to yourself, Stacey and Natalie. You've all been excellent, very helpful and very friendly. We will definitely be recommending to family and friends and will, without doubt, use yourselves again.
Mr H, SheffieldThanks so much for all your vast efforts in completing the purchase on my behalf! Well done - you're a star!
Mr C, SheffieldI've been very impressed with your prompt response and attention to detail with regard to my recent property sales.
Mr & Mrs H, ChesterfieldI'd like to thank you both so much for dealing with the sale and purchase of our property. We've been moved in almost a week now and absolutely loving it. Everything you have done for us has been dealt with at speed and with the utmost professionalism. If I ever get the chance to recommend you I will without a doubt push your names forward. Thank you once again for everything
Mr S, ChesterfieldThank you for your excellent service, as a first time buyer your advice was a welcome comfort.
Mr H, SheffieldI would like to thank you for the seamless transition of the sale of Waller Rd.
Mr G, DerbyKaren Askew and Nathan Rodgers did a fantastic job for us. Professional advice, speedy service and competitive pricing. Very happy.
Mr P, EastbourneThe service was excellent. We were particularly impressed by the swift responses and communication by email. A far superior service than our previous moving experience.
Mr & Mrs S, BridlingtonWe’re really grateful for the work you did for us. 10 out of 10!
Mr C, DronfieldVery easy to make appointments, very personal service from all people at Banner Jones, my solicitor was very friendly and put me at ease. If I needed a solicitor again, Banner Jones would be the first on my list.
Miss H, NottinghamshireBrilliant service, kept well informed all the way through the process. Would definitely recommend.
Mr & Mrs D, MansfieldCannot fault the service, efficient, prompt and cautious. Matters explained very well and clearly. Pleasantly surprised.
Mr W, NottinghamshireService provided was excellent. All the staff were very helpful, considerate and professional. I would highly recommend to friends and family.
Mr A, ChesterfieldHello Gemma, thank you for your help and assistance in both completing the sale and purchase. I know you picked the file up half way through so, to us, that would not have been easy but you always knew exactly what the state of play was, so again thank you. You made it easy for us.
Ms W, SheffieldThanks so much to you and Jayne for all your help and hand holding - it has been very much appreciated!
Mr A, EssexOnce again, thank you so much for all your help and updates - it’s made life so much easier.
Mr G, MansfieldWe appreciate the quick responses we have had since dealing with you, so thank you again.
Miss H, AshoverThank you for your hard work and putting up with my pestering.
It has completed very quickly and I have been very impressed with how efficiently you have handled things.
Mr & Mrs A, ChesterfieldWe would like to thank you for the help and advice that you gave us, pushing us in the right direction and staying on top of all that happened from July 16 through to completion on the 20 Apr 17. You were a tremendous support and we are grateful for you helping us to reach completion with the minimum of fuss. Thank you!
Mr & Mrs Gwynne, MansfieldGreat, friendly service, we were able to contact whenever necessary.
Mr B, ChesterfieldJust wanted to say thank you for all your help, you have been very helpful and easy to deal with.
So once again thank you very much for all your work.
Miss T, NottinghamExcellent service from Josh. Thank you for all of your help.
Mr U, EssexI would like to thank you both of you for your excellent service.
Mr C, ChesterfieldThank you very much for all your assistance and hard work and can you please pass on my thanks to Steve also.
It's been a pleasure working with you both on these past two projects.
Mrs M, SheffieldAlison Howard is always great - Very professional, very efficient and always responds to queries promptly.
Stacey Lee-Davenport is also excellent - They both appear to work very well together! Fantastic service from them both.
Mr H, NottinghamOur solicitor was very helpfull and dealt with our house purchase very efficiently. Very friendly and approachable staff.
Mr & Mrs Q, EcclesfieldEveryone was very helpful and made the experience of buying our first home easy and stress-free.
Mrs B, South NormantonExtremely efficient, professional and I wouldn't hesitate to recommend.
Mr J, ChesterfieldAll interactions with Banner Jones staff have been very friendly and efficient.
Mrs H, SheffieldThanks so much for being there for us. You've worked so hard to make it all go smoothly. We can't thank you enough
Mr & Mrs G, ChesterfieldThanks for all your help!
Mr & Mrs H, ChesterfieldWe have now settled into our new gouse. All thanks to Stacey and her team, everything was quick and faultless.
Alison is great, nothing too much trouble. My wife and I would definitley recommend Stacey and the team - Excellent!
Mr & Mrs E, NottinghamshireVery happy with the service given, prompt replies and very friendly.
Mr S, DronfieldI thought overall the service was very good, Carey has acted for me previously and has always been available if I needed to discuss any matters.
Mr Y & Ms R, SheffieldThere was absolutley nothing to improve! Katie & Carey were splendid!
Miss S, DerbyshireThank your for all of your help and hard work!
Mr H, ChesterfieldWe have dealt with Banner Jones extensively over the past 18 moths, and found them very professional, friendly and efficient in allservices we have dealt with. We have recommended Banner Jones and will continue to do so.
Mr W & Ms L, SalfordOur thanks to Mark and yourself - House buying is inevitably full of stress but it’s made easier when your solicitors manage to combine professionalism with being friendly and approachable. It is much appreciated.
Mr & Mrs B, ChesterfieldThank you for all your help with regards to the sale and purchase. Much appreciated and highly recommended. We'll prob be in touch soon as we need to make a will.
Mr B, NottinghamRecieved excellent service. Great comunication from Laura, I would definitely recommend this company!
Miss C, GloucestershireHollie, you've made me an incredibly happy lady! Thank you so much for all you support, I appreciate your time and for keeping me up to date throughout. A very thorough service.
Mr G & Mrs B, SuttonKatie, Carey
Now that the dust has settled I just wanted to thank you for your dealing with the coveyancing for the sale of our Mother's flat. I know it was rather more protracted than expected but thanks for your perseverence and professional approach.
Mr R, ChesterfieldWe are most grateful to you for all your hard work and diligence in seeing through this sale to a conclusion.
Mr E & Miss W, ChesterfieldJust a short note to thank you for the prompt and efficient way you handled the sale of our property.
Mr & Mrs T, MansfieldOutstanding service from start to finish. Very efficient, polite and friendly staff, who respond to emails very quickly within a very short time limit.
Mr & Mrs D, WorksopThank you for all you have done, Tammy and I have been very impressed with how quick everything has happened. You will be highly recommended from us.
Thank you
Mr HThis has been a real saga. Thanks for all you patience and hard work! We really appreciate it.
Mr & Mrs C, WorksopWe were extremely happy with the quick, efficient way that our house purchase was handled by Karen Askew. Time was very important as we were in danger of losing the property if we had not completed the purchase within a few weeks. Thank you very much Karen,
Mr J, HitchinDealt with Mark Bilton for over 25 years re commercial and residential properties. 1st class service from all departments, I would highly recommend this firm!
Mrs N, BakewellExcellent service from friendly, approachable people.
Miss N, NottinghamshireThank you so much for everything, you have been an absolute star!
Mr & Mrs L, DerbyshireWe just want to express our sincere thanks for the professional and efficient way in which you and your team have dealt with the conveyancing following the sale of my late Aunt's property.
Jessica and Jade were extremely helpful and professional also and it was a pleasure to know they were picking up the reins should you be otherwise engaged.
We would have no hesitation in using the services of Banner Jones on a future matter.
Mrs P, ChesterfieldThe service was very quick and easy to follow. The staff were very helpful and friendly. Would recommend a friend or colleague to Banner Jones.
Mr S, HeanorProfessional, helpful, caring and genuine. Nothing was ever too much trouble or to ask for.
Mr & Mrs B, DevonThank you for your most efficient service.
Mr S, RotherhamThank you for your assistance with these two transactions. I am very happy with the level of support and assistance you've provided, and glad that I have chosen Banner Jones.
Ms L, ChesterfieldBoth Natalie and Stacey were very friendly and I had a professional service for both my house purchase and Will. The staff were very nice to talk to and helped me with every step if I was unsure what to do. Will highly recommend to friends and family.
Mr & Mrs L, NottinghamshireAbsolutley brilliant staff were helpful and friendly to me, Banner Jones staff have made buying our property as easy, with step by step feedback, even with the sale process. Thank you, very very much.
Mr & Mrs H, SheffieldThe service given st the Dronfield branch was excellent. Staff were always friendly and helpful, nothing was ever too much trouble. We will definitely be using Banner Jones in the future.
A special mention to Catherine Wilson who helped us through a traumatic house move!
Mr & Mrs G, WorksopBanner Jones provided a very friendly service and we felt on equal terms with our representitive. Our queries were dealt with quickly and we got the home we wanted
Mr & Mrs K, LeicesterKate and her team were very professional, knowledgeable, prompt and customer focused. The whole process was handled seamlessely and they were friendly and helpful. We will definitely like to use Banner Jones and highly recommend to our friends and family.
Miss Y, MansfieldBanner Jones have helped me buy and sell my houses with great ease.
Mr & Mrs H, ChesterfieldThank you for dealing with the saleso efficiently and for your help with the mortgage discharge.
Mr & Mrs W, DronfieldFantastic service from start to finish.
Mr & Mrs S, ChesterfieldThankyou to you and your team for dealing with our move.
Mr & Mrs P, SheffieldKate Skelton was very helpful, knowledgable and confident in dealing withour residential conveyancing. She always put us at ease and explained everything to us during each step of the way.
3Sixty Financial SolutionsThanks Jessica, efficient and helpful as always!
Mrs V, DronfieldWe have been very impressed with your help so far and therefore would like to use Banner Jones for both the sale of our current property and the purchase of our new property, based on the quotations we have received.
Mr M & Ms MHolly, thank you so much for all your hard work to get us into our new house for Christmas!
Mr B & Miss W, ChesterfieldThe purchase went through very quickly and smoothly, and I was kept updated throughout the whole process. Highly recommended!
Mr & Mrs HThe whole buying & selling process was really smooth. Everyone says that buying & selling a house is very stressfull but you made it all stress free and we would have no hesitation in recommending you to anyone. Thanks again.
Mr H, ChesterfieldKate Skelton and her team are excellent, friendly and such helpful staff.
Mr & Mrs K, ChesterfieldFantastic service by Gemma Sharpe-Buckley at the Chesterfield branch. Always responded ASAP to every email, I sent several with lots of questions and I was always provided with clear answers to help me. 100% would recommend,
Mrs R, DronfieldI couldn't be happier with the service from Sally and her team at the Dronfield branch. Thank you.
Ms W, SheffieldThank you so much for a professional and helpful service
Mr B, BaslowExcellent service. It's always a stressful time moving home but you dealt with the problems raised by our buyer's solicitors swiftly and efficiently. When we find another property will have no hesitation in employing you to do the legal bit!
D Gamble, MansfieldJosh was brilliant. Many thanks to you all.
Mrs W, MansfieldExceptional value for money compared to other solicitors. Direct contact with the solicitor and his assistant. Responses were quick. A very good service and would definitely recommend.
Mrs A, ChesterfieldUsed the firm before and will use again. Can't think of a better recommendation!
Mrs C, SheffieldConveyancing services
We recently dealt with Jade Cody in relation to the sale of our home and purchase of new property. The service we received was outstanding. Any questions we had were answered promptly and the whole process was made seem less and as stress free as possible by Jade. At no point did we feel that they were too busy to deal with our matters and we were kept up to date regularly. We wouldn’t hesitate to recommend Banner Jones for conveyancing services.(Conveyancing in Sheffield)
Mr M, MansfieldFantastic service – Professional and personable
10/10 service. I always feel looked after when dealing with Mark Bilton and Dawn Wilford. They provide a fantastic service for a very reasonable price. They are always willing to help and are knowledgeable in all areas. I have recommended Mark and Dawn to many of my friends and colleagues and I have only received great feedback.
(conveyancing Solicitors in Mansfield)
Mrs L, SheffieldEfficient and helpful for the purchase of my first home
I used Jade Cody as my solicitor to purchase my first home. I received timely responses to all of my enquiries and was kept up to date on all matters. I would happily recommend Jade and the team at Banner Jones to people purchasing a property!
(Conveyancing Solicitors Sheffield)
Mrs E, SheffieldMany thanks again to you for all your help with the purchase, you made it very stress free which was very much appreciated!
(Conveyancing Solicitors Sheffield)
Mrs C, MansfieldAuction Sale
I really do appreciate the efficiency, speed and professionalism with which you have worked. Especially given the sensitive circumstances.
I would have no hesitation in using your services again and indeed recommending you.
(Solicitors in Mansfield)
Mr C, SheffieldThank you very much for completing this assignment in the timeframe I requested. I appreciate it very much. You guys have been excellent throughout in your dealings with this. Megan has been professional perfection. I will be using you guys next time (if you'll have me).
(Conveyancing in Sheffield)
Mrs H, LeicesterThanks Karen and Amber you have all been brilliant through this process!
Mrs M, MansfieldRecommended conveyance service
Cheryl Bradley at Banner Jones Mansfield has carried out conveyance work on 4 properties for me and the whole process has been highly professional.
(Conveyancing in Mansfield)
Mr & Mrs T, SheffieldFirst time property investor
Tim Barley and his team, have been excellent throughout. The entire process has gone seamlessly. We were particularly impressed with how Banner Jones gave us a weekly update and communicated with our estate agents and mortgage broker. We never felt out the loop and we didn't have to chase for information. There is no doubt that we will use Tim at Banner Jones for our next investment. We have already recommended Banner Jones (Tim) to another investor for their next purchase.
(Conveyancing Solicitors Sheffield)
Mrs M, MansfieldRelocation
Banner Jones provided an excellent service during our relocation. They always responded to any request and were polite and courteous at all times. Moving home is stressful but relocating is even more stressful. Banner Jones made the relocation work for us. Thank You.
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