The Right to Buy scheme has helped almost 1.6 million council tenants in England buy their own homes. It is targeted at well-established local authority secure tenants (with a minimum tenancy of two years), enabling them to buy their homes at a discount price; the amount of the discount increases roughly in proportion to the length of the tenancy. The maximum discount ranges from £16,000 to £38,000 for both flats and houses, depending on where you live. The Right to Buy scheme is open to virtually any secure tenant who can afford to buy, with the exception of homes occupied in connection with their employment and housing specially provided for older people and (in certain cases) disabled people. Tenants with Rent Arrears You can still buy your council house but all arrears and any other debts, such as water charges and rechargeable repairs, must be cleared before completion. You cannot buy your home if there is a Possession Notice in force.

Repairs during the application process
Once you have sent in your application to buy your home, you will be entitled to Emergency Repairs only until the completion date. You will not be entitled to any improvements or non-urgent repairs. On the completion date, the date the property becomes yours and you will then be responsible for all repairs and maintenance to your home. If you withdraw your application you will be able to access the Council's repairs service in full.

Costs involved
The costs of buying your home can vary but you need to budget for the one-off costs of; legal and arrangement fees, survey and valuation fees, Land Registry costs and Stamp Duty. Other ongoing costs will include mortgage repayments, building insurance, life assurance, repairs and maintenance, improvements and service charges if applicable.

Points to consider
This will probably be the biggest financial decision you can make so you should always seek independent financial advice before proceeding. The following factors should also be considered:
• Can you afford the mortgage repayments and running costs of your own home? You will be responsible for your mortgage repayments, building insurance and any repairs and maintenance on your home
• If you are elderly and own your own home, its value may be taken into account when assessing whether you are eligible for financial help for residential care
• If you are buying a leasehold flat or maisonette you will also have to pay an annual service charge
• Beware of Right to Buy sales people who may try to get you to sign deals on the doorstep. Do not sign any loan agreements unless you have read the terms and conditions and you are fully aware of the commitment you are making.

Who will value my home?
The council (or housing association) will value your home and state the price in the Section 125 Notice. If you feel the valuation is too high, you can obtain an independent valuation from the District Valuer (you must tell the council that you will be contacting the District Valuer within three months of receiving the Section 125 Notice). The District Valuer’s assessment is final, even if it is higher than the first valuation.

What happens next?
Your council will send you an offer notice, Section 125 Notice, setting out the price at which you can buy your home and the terms and conditions of the sale. It will also describe any known structural defects and estimates of service charges for leasehold properties. You will then need to decide whether you wish to proceed and notify the council of your decision in writing.

Getting legal advice
It is important to gain independent legal advice, buying a home is one of the biggest decisions many of us make. A solicitor will be able to explain the terms and conditions of the sale and act on your behalf during the conveyancing.

Getting a Mortgage
If you decide to proceed with your Right to Buy and need a Mortgage you should contact Your Mortgage options as soon as you receive the Section 125 Notice. We will find the most suitable mortgage for your individual circumstances and advise you how to raise any additional cash you may want for immediate home improvements, such as a new kitchen or double glazing, or for other purposes.

Getting a Survey
The proposed lender will wish to undertake their own survey and valuation to be satisfied that the property is suitable to lend money against (the basic valuation only gives the estimated value of your property and will not specify any defects). You may wish to instruct your own independent survey from a qualified surveyor or structural engineer. If so, let us know as early as possible so that we can ensure that your chosen surveyor is acceptable to the proposed lender to avoid unnecessary additional cost. The survey should give you details of any defects on the property.

Our professional, qualified mortgage advisers will assist you through the mortgage application process. We can recommend a suitable solicitor and we will provide competitive illustrations for insurance protection for your consideration.