If you have a right to buy your home, you'll get a discount on its market value. You'll still have to pay all the usual costs involved with buying a home though.
Right to Buy discounts
If you have a Preserved Right to Buy, the current maximum discount is £127,900 in London and £96,000 outside of London.
If you're eligible for the Right to Acquire, you could get between £9,000 and £16,000 to help you buy your home.
You can use the Right to Buy calculator to help you work out what discount or money you could get.
Other costs to think about
When you buy your home you'll have to pay:
- A deposit (usually at least 10% of the final price of your home)
- Solicitor or conveyancing fees
- Mortgage fees
- Land Registry fees
- Stamp duty
After you've bought your home you won't pay any rent, but you'll need to cover:
- Your mortgage repayments
- The cost of buildings insurance
- An increased service charge
You might also have to pay ground rent. We can tell you what your ground rent and service charge would be if you bought your home.
It's best to speak to a specialist Right to Buy adviser to make sure you can afford to buy your home before you start the process. More information is available through the government's Right to Buy Agent Service.
Call 0300 123 0913 or email enquiry@righttobuyagent.org.uk.