The scheme is open to people who are secure tenants who have spent at least five years as a public sector tenant. You may apply jointly with family members over 18 years old who have lived with you for at least 12 months. You may apply if you are currently receiving Housing Benefit or have in the past.
Please read the booklet "Your Right to Buy your home" and complete the accompanying form RTB 1. These can be downloaded from GOV.UK You can also contact the House Sales department on 0300 300 8302 or 0300 300 5155 and request an application pack. Return the completed form to the House Sales Department, Watling House, High Street North Dunstable, Bedfordshire. LU6 1LF.
The Department for Communities and Local Government (DCLG) has produced a simple summary leaflet and some more detailed guidance on Right to Buy. You can download them using the links below.
The House Sales Team will inform you of the valuation of your house (there is no charge for this service) and the price that you will be required to pay. This will be the valuation less any discount you are entitled to, depending on how long you have been a tenant. From 2nd April 2012 this amount has been increased to a maximum of £75,000.00. You will have the right to challenge the valuation of the property which will be considered by the District Valuer.
If your application is accepted and you decide to go ahead with the purchase, you will need to arrange for a mortgage or alternative method of payment. You will also be liable for the general costs associated with purchasing a property including Stamp Duty, Solicitors fees and Land Registry fees.
When you own the property you will be responsible for all the repairs and upkeep. If you buy a flat you will also have to pay towards any major works to the building and an annual service charge.
You can sell your house at any time, but if this is within five years of the purchase date you will be asked to repay a proportion of the percentage discount you received.