Who Can Help Me
To Buy My First Property?
The Right To Buy Scheme
Would
you want to buy your current council accomadation?
There is an incentive to do so that is greater the longer you have been
a
tenant.With property prices currently slumped and supposing you could
aquire a significant upfront cash deposit this might be an attractive
proposition with discounts ranging anywhere from £16,000 to
£38,000 depending on your circumstances.
However there are some catches in the scheme which states that if you
sell the property in LESS than 5 years,you must pay the discount
back.Also in response to falling house prices many local authorities
have introduced a maximum discount cap whereas before the discount was
worked out as a percentage of the CURRENT market value.In addition, not
all people and properties can qualify.If the council home you live in
has been specially provided or believed to been modified for special
occupation by the elderly or disabled you will be unable to purchase
this home through the discount scheme.Just as well some councils have
transferred there property portfolios to housing associations and any
tenants that would have been required to
move will not have the PRTB (
Preserved Right To Buy).
Individuals that have been issued a court order to leave there home or
individuals who are undergoing bankruptcy and have not been discharged
will not qualify neither will employers who have been provided
accomadation for work related purposes.
