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Right to Buy FAQs

If you’re living in social housing, Right to Buy could help you become a homeowner more affordably. At First Mortgage, we’ll guide you through eligibility, applications, and financing with no hidden fees, just straightforward advice.

• What is Right to Buy?

  If you have been living in your council property (rented from a council or certain public‑sector landlords) for at least two years, it’s likely that you will have the opportunity to purchase your home at a discounted price.

  Right to Buy is a government‑backed scheme that lets eligible council or housing‑association tenants in England purchase the home they live in at a discounted price below market value.

  Please note this scheme ended in Scotland on 31^st July 2016, and in Wales and Northern Ireland in late 2022. Applications are still welcome for council tenants in England.

• What discount can I receive?

  The discount depends on where you live, how long you’ve been a tenant, and whether you’re buying a house or flat.

  Region	Maximum Discount
  Yorkshire and the Humber	£24,000
  East Midlands	£24,000
  West Midlands	£26,000
  Eastern	£34,000 Except the district of Watford (£16,000)

  Typical discounts are structured to reward long-term tenancy. If you qualify, the discount can substantially reduce the amount you need to borrow - potentially turning what would have been a lofty mortgage into an achievable home‑ownership plan.

  The size of your Right to Buy discount depends on a few things:
  ● How long you’ve been renting the property
  ● Whether it’s a house or a flat
  ● The current market value of the property
  ● If you’ve used Right to Buy before

  Just a heads-up: if you sell your home within five years, you may need to repay some or all of the discount—plus a share of any profit made on the sale.

• Who can apply?

  You may be eligible for Right to Buy if:

  • You’ve been a secure tenant with a council or public‑sector landlord for at least three years.

  • The property is your main home, self-contained (you don’t share rooms with others outside your household).

  • You meet certain tenancy conditions (e.g. not under eviction, not bankrupt, no serious housing‑association exemptions) and the property qualifies under Right to Buy rules.

  • You can apply alone, or with a co-tenant, or with up to three family members who’ve lived with you at least 12 months.

• How it works
  1. Submit the Right to Buy application form (RTB1 notice) to your landlord.
  2. Your landlord must reply (usually within four weeks), either approving or refusing the sale. If approved, you receive an offer, including the discounted price, property details, and estimates for service charges for flats or maisonettes.
  3. Book an appointment with First Mortgage to get a decision in principle, or to find out how much you could borrow and how much your repayments could be.
  4. You then have a window of time (often 12 weeks) to decide whether to proceed. If you agree, you move forward with arrangements: valuation, mortgage, solicitors, etc.
  5. If you change your mind, you can pull out of the sale and continue to rent from your landlord. The scheme offers flexibility.
• Why Right to Buy could make sense now

  For many tenants, saving a deposit is the hardest part of buying. Right to Buy’s discount often does much of the heavy lifting. With our guidance, you might be able to move from renting to owning with a smaller deposit than you may think, removing one of the biggest barriers to homeownership.

• Next steps

  If you think you may meet the eligibility criteria, or aren’t sure, get in touch with First Mortgage. We’ll run through your circumstances, check if Right to Buy is still available, and show you how much you could borrow, and what it might cost long-term.

  Get in touch