Buying your home
The right to buy
For tenants who transferred from Manchester City Council in June 2008.
Your tenancy agreement gives you the legal right to buy your home if:
1. You have been a tenant - with the City Council, City South or another public sector landlord (like another council or housing association) - or lived in armed forces accommodation for a specific time. If you become a tenant before 18th January 2005 the specific time is two years. If you became a tenant on or after that date, the specific time is five years.
2. You do not you live in specialist housing - for elderly or disabled people for example.
If you have the right to buy
You can buy your home at a discount price below its market value - the longer you have been a tenant, the bigger the discount. If you live in a house you will get between 32 percent and 60 percent off the market value. The discount if you live in a flat is between 44 percent and 70 percent.
But the maximum discount you can get is £26,000.
If you buy your home, you can sell it in the future - but if you do this within a specific time you will have to pay back some or all the discount. If you applied to buy your home before 18th January 2005 the specific time is three years. If you applied to buy your home on or after that date, the specific time is five years.
Think before you buy!
When you are looking at the difference between renting and buying, don't just check the weekly payments. Remember your rent includes things like buildings insurance and a free repairs service. If you buy your home you would have to pay for these things yourself.
If you are thinking of buying, beware of 'Right to Buy' sales people who may try to get you to sign deals on the doorstep. Get independent financial advice from a bank or building society. We can give you free advice or you can read more about Right to Buy via the links below.
Click here to visit the Directgov website and read detailed information about Right to Buy
Click here to download the Governments' Right to Buy information leaflet
If you are interested in buying your home through Right to Buy you need to fill in an application form and send it to us.
Click here to download the Right to Buy application form.
Alternatively, contact us and we can send you an information pack and an application form in the post.
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