Right to buy was introduced by the Conservatives under Margaret Thatcher by way of the Housing Act of 1980. The purpose of this scheme is to allow council tenants to buy their council home at a discount. This value of the discount depends on how long you have been a tenant and can vary from between 32 -60% on a house to up to 70% on a flat. The maximum discount is £16,000.
To be eligible for the scheme you must have been a council tenant for at least two years at the time you make your application. You should have no court orders, such as County Court Judgements (CCJs) for debt, against you and any arrears (missed or overdue payments) need to be cleared before the purchase of your home can go ahead. If you do end up buying your home, be aware that if you decide to sell it at a later date you will have no right to ask your local council to rehouse you.
If you want more information about right to buy you should contact your local council.
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