Right to Buy Discount
Last updated | 09/07/2010
In general, the level of discount has been reduced for those tenants who qualify for the modernised right to buy. If your right to buy entitlement in your current home dates from before 30th September 2002, then you can buy after a 2 year qualifying period. Your discount starts at 32% for houses rising by 1% per year up to a maximum of 60% or starts at 44% for flats, rising by 2% per year up to a maximum of 70%.
If you gained the right to buy on or after 30th September 2002, then you can buy after a qualifying period of 5 years. Your discount starts at 20% after those 5 years and rises by 1% per year up to a maximum of 35% of the market value. This applies to all property types (houses and flats) and the maximum discount is subject to a cap of £15,000. Under the modernised right to buy therefore, the maximum discount you can get in money terms is £15,000 off the market value of your home.
For further information, please email housingrents@pkc.gov.uk.
