Right to Acquire
Right to Acquire criteria:
- The Right to Acquire scheme started in April 1997 so this scheme is only available for homes built or which received government funding after this time
- You must have an assured tenancy
- You must have been a public sector tenant for at least three years
- Your home must not be about to be demolished. If you're not sure about this, please check with you Property Manager
- You must not be an undischarged bankrupt, have a bankruptcy petition pending against you or have obtained a debt relief order
- You must not have any outstanding possession orders against you
- The discount available is between £9,000 and £16,000. The amount of discount you qualify for depends on the borough in which you live
To find out more about eligibility for the Right to Acquire scheme, visit the Government's website.
If after reading through the eligibility criteria you feel that you qualify, you can request an application pack by getting in touch with our customer service centre or by calling 0300 456 9996.
Some basic checks will be made before we send the application pack, but all final decisions will be made after a full application has been made.
How long does the application process take?
The Right to Acquire has strict time-scales that must be met by all parties. These include:
Once we have received your application, we must respond to you within four weeks or eight weeks if you have a previous tenancy with a different landlord.
Sales offer being issues
We have eight to twelve weeks to gather all the information needed to go into your sales offer. This will detail the property value, discount entitlement and any future cost that you may be responsible for.
Sales offer response
You will have twelve weeks to respond to let us know if you want to proceed. This time should be used to read the sales offer thoroughly and get advice on whether this is financially viable for you.
When you apply, we will need to know the name of your chosen solicitor.
Receipt of the sales offer response
If accepted, we will then order the conveyancing plans. As soon as these are received our solicitors will be instructed. You will now have three months to organise your mortgage and complete the purchase.
Please not that after submitting your application, only essential maintenance will be carried out on your property.
Once you become the homeowner, you will be fully responsible for all repairs and maintenance to your property, other than communal/external repairs if you live in a flat, but you will still need to pay a contribution for these maintenance costs.
If you are accepted for the Right to Acquire, we will need to follow anti-money laundering laws. This means we will need you to confirm how you'll be funding the purchase.
If you're using savings to pay for this, we will need to see evidence showing where this money came from.
Your purchase may be delayed if you don't give us information when requested, or if you do not respond satisfactorily to any questions that may be raised.
We may also need to use an identity verification agency to confirm your identity.