Those renting their homes from a housing association may be able to begin the residential conveyancing process with the Right to Acquire scheme which helps tenants in England and Wales to buy their home at a discount.
Tenants eligible for the scheme need to have been public sector tenants for at least five years. Public sector tenants include those who live in properties provided by a housing association or the armed forces. There are also many other public sector landlords which are accepted for Right to Acquire.
Persons renting from the council are not eligible to buy their home under Right to Acquire, but may be able to get a discount on purchasing their home through the Right to Buy scheme.
A tenant can make a ‘joint application’ for Right to Acquire with another person who they share the residence with, or it can be made with up to three members of family who have also been living in the home for at least twelve months.
In order to qualify for the Right to Acquire scheme, a public sector tenant’s home must have been built or bought with public funds by a housing association from 1 April 2007 onwards, or have been transferred from a local council to a housing association after 1 April 2007.
Tenants are only qualified to buy their home if their landlord is a housing association or housing company registered with the Tenant Services Authority which regulates landlords who provide social housing.
The housing association home must also be self-contained, meaning that bathrooms and living rooms are not shared with other people, and must be the tenant’s only, and main, home.
Tenants who are being made bankrupt or have received a court order to leave their home are not entitled to buy their home under the Right to Acquire scheme.
There are also particular categories of homes which don’t qualify for Right to Acquire, which include housing provided for those aged 60 and over, housing provided for those with special needs or a physical disability, housing provided as part of a job, and property which the landlord has served notice will be demolished within two years.
Seek residential conveyancing advice from Healys solicitors of London and Brighton
When a tenant decides to purchase their housing association home under the Right to Acquire scheme, the process can be complicated and difficult to understand.
A property conveyancing solicitor in London or Brighton at Healys can offer advice and representation to those seeking to buy their home whilst ensuring that their client’s best interests are achieved.
If you would like to find out more information about Healys residential conveyancingservices you can request a call back, email us, or give us a call.