At Vincent Solicitors, we recognise that deciding to buy instead of renting is a very big step and can be quite a worry. We try to reduce this stress by explaining the process and working with the council and your lender to ensure that the purchase is completed as smoothly as possible
If you’ve been a council or housing association tenant during the last 5 years (or more) then you should consider buying your home under the ‘right to buy’ scheme. You can obtain a discount from the Local Authority (up to a maximum of £75,000) to purchase your home which may be enough to get yourself on to the property ladder.
You may be eligible if you fall within either of the following categories, namely:
(a) Your lease began on or after 30 September 2002 but before 2 March 2011 and you have been living in the property for 5 years
(b) Your lease began on or after 30 September 2002 but before 2 March 2011, but you have not been living in the property for the 5 years.
It is advisable that you speak to your council (landlord) about the options in order to be aware of the steps to be taken to proceed.
In some circumstances, while you have been living at the property, your landlord may have changed. You will have received a letter entitled, ‘notice of transfer’, notifying of the change from being owned by the council, to another landlord (e.g. to say, a Housing Association). Even in these circumstances, you may still have the Right to Buy, provided you have been a tenant for a qualifying period, under a scheme called called ‘Preserved Right to Buy’. We again advice you to speak with your landlord for further information on your options.
Once you have made an offer to purchase on the Right to Buy Scheme then please contact us in order to guide you through to completion. We understand how the process can appear daunting at first, but rest assured we deal extensively with first time buyers understand your specific needs. We also understand that there is often a fear of excessive legal fees. We at Vincent Solicitors ensure that our services are offered at competitive rates.
Give us a call if you want to get a professional and friendly service;
If you qualify to purchase a right to buy property and would like further advice or a fee quotation with a professional and friendly service, please please ring us today on 0208 574 0666