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Right to buy - Frequently asked questions

• We have accepted the Council's offer to sell our house to us. What shall we do next?
• How do I raise the money?
• Will I need a deposit?
• Can they put the price up?
• There are some things in the house that need attention. Will the council put these right before we buy?
• How long will it take?
• How important is a survey?
• Can we buy in joint names even though only one of us is the named tenant?
• What other costs will there be when I own the property?
• If I wished to sell or transfer the property in less than 3 years - would I need to repay the discount?

We have accepted the Council's offer to sell our house to us. What shall we do next?

Contact us by phone or by clicking on "Get in Touch" with the details of your property and the Council's offer.

How do I raise the money?

You will need a mortgage. There is a bewildering array of packages available from mortgage brokers, banks etc. Many of these organisations are only able to sell their own products, which may not suit you. However as totally independent advisors we have a duty to provide you with the best combination of services to meet your needs. We can recommend you to a number of totally independent financial advisors who will find the right mortgage for you.

Will I need a deposit?

No.

Can they put the price up?

Only if you do not proceed within the given period, and a revaluation is required. The council set out these time limits in their offer letter to you.

There are some things in the house that need attention. Will the council put these right before we buy?

The valuation will have been made on the condition of the property, and it is unlikely that the council would attend to any such matters after you have accepted the offer.

How long will it take?

Once you have accepted the offer and given them the name of your solicitors it is usually just a few weeks before the full paperwork is received from the seller's solicitors. The only other time factor will be the time taken to obtain a mortgage offer.

How important is a survey?

It is always advisable, as even if you are obtaining almost the full purchase price from a lender, this will only represent a small proportion of the estimated market value. The lender's valuer is only acting for the lender whist your own surveyor has a duty to you and could be responsible to you in the event of structural problems arising after purchase. We can recommend a suitable surveyor.

Can we buy in joint names even though only one of us is the named tenant?

There are difficulties over this and it is not always possible. We would be pleased to take the matter up with the Council on your behalf.

What other costs will there be when I own the property?

Insurance, maintenance and repair.

If I wished to sell or transfer the property in less than 3 years - would I need to repay the discount?

Yes. This usually reduces by one third for each complete year, but you must check with the Council.