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DWA Housing Digests (One Of a Series)

 

THE RIGHT TO BUY

     

The Housing Act 2004 made a number of changes to the Right To Buy (RTB). These changes came into force on 18 January 2005.

 
  • If you became a tenant after 17 January 2005 you have to have been a tenant for 5 years (instead of 2 years) before you can apply to buy your home.
     
  • The discount for flats now starts at 50% of the market value and the discount for houses starts at 35% of the market value. The maximum discount you can receive will vary from area to area. Your landlord will be able to tell you what the maximum discount is.
     
  • If you apply to buy your home after 18 January 2005 and then want to sell it in the first 5 years you will have to pay back a part of your original discount.
     
  • And owners who want to sell their home within 10 years must first offer it, at market value, to the ex-landlord.
     
  • If your home is earmarked for demolition you Right to Buy is suspended when an 'initial demolition notice' is served and your Right to Buy comes to an end with the service of a 'final demolition notice'.
     
  • For Right to buy applications made after 17 January 2005 the landlord does not have to complete the sale if an application has been made for:
     ■   A demolition order
     ■   A possession order for anti-social behaviour