Buying Your Home

Right to Buy

The right to buy allows residents who qualify to buy their home at a discount off its market value. The level of discount available will depend on whether your home is a house or flat, when it was built and for how many years you have been an eligible tenant. The maximum discount available is currently £38,000.

You will usually qualify if you:

• have a 'secure' or 'protected assured' tenancy
• your house or flat is a separate home and is your main home

You should check your tenancy agreement to see what kind of tenancy you have.

Other members of your family may also be eligible if they have lived with you for over 12 months.

Some properties are excluded, these include:

• sheltered housing for the elderly, the physically disabled or other specialist accommodation
• a home provided by William Sutton Homes as part of your employment (in some cases)
• a home used as temporary accommodation prior to redevelopment
• a home leased/rented by William Sutton Homes from a private owner

You will also have to consider the other regular costs of managing your home. These will include:

• buildings insurance
• life assurance
• mortgage payment protection insurance
• repair and maintenance costs

In addition if you live in a flat you will have to pay service charges and ground rent.

Right to acquire

The Right to Acquire is an extension of the Right to Buy which allows some tenants to buy their homes at a discount. The discounts available range from £9,000 to £13,500, depending on the location of your home.

To qualify for Right to Acquire, both you and the property must qualify.

You must:

• have an 'assured' or 'secure' tenancy
• have been a housing association or public sector tenant for two years
• not be in arrears with rent, bankrupt or subject to possession proceedings

The property must:

• have been developed with Social Housing Grant after April 1997

However you will not be able to buy your home if:

• your home is in certain rural areas
• your home is leased/rented by William Sutton Homes from a private owner
• you are employed by William Sutton Homes (in some cases)
• your home is sheltered housing for the elderly, the physically disabled or other specialist accommodation
• the loan being paid by William Sutton Homes on the property is greater than the purchase price plus discount