Stephensons Trustpilot stars
Based on count 1542
View all reviews

Right to Buy - London conveyancing

In the UK, London as a region has the overall highest house prices, meaning those living in the area may struggle to make the transition from renter to homeowner. However, the Right to Buy scheme means most secure tenants of council properties and some housing association properties have the legal right to purchase the property for a discounted price. Given the noticeably higher house prices in London, utilising the Right to Buy scheme is ideal for those wanting to be homeowners due to the discount.

Specific requirements can vary based on whereabouts in the UK you are based, but it is likely that you will be eligible to buy your council home if:

  • It is your only home or main place of residence
  • Your home is self-contained
  • You are a secure tenant
  • You have had a public sector landlord for three years – this can include a council, housing association or NHS trust, for example
  • It is a joint application with someone who shares your tenancy
  • It is a joint application with up to three family members who have lived with you for a minimum of one year
  • Your home was owned by the council and sold to another landlord whilst you were living in it

loading staff

How much discount will I get?

Currently, the maximum Right to Buy discount in London boroughs is £103,900. This amount will increase every April in line with the consumer price index. Your own specific discount will depend on how long you have been a tenant in the property, the type of property (ie. a house or apartment) and the total value of your home.

If you are buying your home with somebody, you must count the years of the person who has been a public sector tenant for the longest period of time in order to be entitled to maximum discount. If you have used Right to Buy in the past your discount may be less, and if you sell your home within five years you may have to repay some or all of your discount back.

 

Where do I begin?

Given all the above information, if you are looking to buy your property in London through Right to Buy, you will need a specialist London conveyancing solicitor to help you through the process. When you have officially applied for the right to buy and your landlord has agreed that you qualify, you will receive a Section 125 notice from your landlord. This will provide you with the following details:

  • Price of the property itself
  • Discount
  • Estimates of service charges
  • Estimates of Improvement costs for five years
  • Structural issues
  • Terms and conditions of the sale

If you are based in London and interested in purchasing your home through the Right to Buy scheme, contact Stephensons today on 01616 966 229 for a free, no obligation initial chat with one of our legal advisors. Speaking to one of our residential conveyancing solicitors who specialises in properties in London will give you a clear view on your options, in addition to further information you may be unaware of. Furthermore, if you choose Stephensons as your solicitors of choice, you will have the added benefit of being able to stay in touch with your transaction 24 hours a day through the use of our case tracking system. Call us today to see how we can help. 

4.5out of 10
4.5 score on Trustpilot Based on count 1542

We're Great

It is our business to deliver legal services that work for our clients, and you can trust our specialists to take care of things on your behalf.

Our Trustpilot reviews

Top tips for a stress free house move

Buying or selling a house can be a stressful time and there can be several things that can cause the process to be delayed. Here are our top tips on how to make your house move go as smoothly as possible. Find the right conveyancer Your conveyancing...

Read more

Twitter block 1 tweet

SolicitorsLLP

Charity of the year donation - Guide Dogs for the Blind Association

Over the last two years staff from across the firm have been fundraising for our charity of the year, Guide Dogs for the Blind Association. After a challenging two years for fundraising we are proud to announce that we have raised just over seven and a...

Read more

Staff reorder - conveyancing

  • David Baybut
  • Natalie Bradley​
  • ​Michelle Stevens
  • Gillian Cooke
  • Natalie Waddington
  • Rebecca Fletcher
  • Kimberley Parr
  • Noel Davies
  • Karis Loxham
  • Kate Williams
  • Kate McDonough​
  • Alison Fanning
  • Natalie Penman
  • Jenny Prescott