Right to Buy
Important Right to Buy alert
Have you ever received a letter or leaflet from a company or individual offering money to buy your council home? It can be very tempting as they offer to support you through the process of buying your home that won’t cost you anything and there's no financial risk.
What they may not tell you is by offering you cash to help you buy your home under the Right to Buy scheme, you're likely to be asked to enter into a ‘deferred-sale agreement’. This forces you to leave your home as soon as the property has been bought or, where the balance on the loan amount is immediately repayable within 5 years. Sadly this often results in a tenant being homeless, and if this happens the council will not offer you another tenancy.
Please think very carefully before using one of these companies or individuals. Ask yourself what's in it for them. Do not sign anything that you're not entirely clear about or happy with. Get independent legal advice from your own solicitor or the Citizens Advice Bureau before you enter into such an agreement.
If you're considering this option, check if the solicitor, money lender (including individuals) and companies are registered online and any feedback from others who have used their services.
Below are some websites that can help you:
Right to Buy Agent service
The government has set up the Right to Buy Agent service to offer assistance if you're considering buying your council property. They're entirely independent and offer free impartial advice on how to buy your home.
They can be contacted on 0300 123 0913 or via email.
For more information, view the Right to Buy website.
Page last updated: 04 April 2024
