Right to Buy
What is Right to Buy?
Right to Buy is a scheme that was introduced by the government back in 1980, to help council house tenants in the UK buy the property they currently rent, at a discounted rate.
Thanks to the significant discounts the Right to Buy scheme provides, the vision of purchasing your rented property becomes a realistic goal. In fact, since the scheme was first introduced, around 1.8 million homes have been bought. A single or joint application can be made for the Right to Buy scheme, and some mortgage lenders will even allow you to use your Right to Buy discount towards the deposit required to secure a property.
If you are currently renting a flat or house owned by the council and are interested in making it your own home, the Right to Buy scheme is a great headstart to making it happen.