Government ups Right to Buy discounts

Published on

discount price for house

The government has announced that council house tenants will now benefit from higher Right to Buy discounts, and be guided through the homebuying process.

From this week, a team of Right to Buy advisers will be on hand to offer free advice, support and information for any tenant who dreams of becoming a homeowner.

In addition, the maximum discount caps available have just increased, so from now tenants can benefit from as much as £77,000 off the value of their home outside London, and £102,700 in the capital.

Tenants wanting to buy their own home can ring a dedicated local rate helpline to speak to a member of the new Right to Buy agent service. The service, appointed by the Department for Communities and Local Government (DCLG), will provide free advice at each stage of the purchase.

Housing minister Brandon Lewis said: “We have reinvigorated the Right to Buy, increasing the discounts available to open it up to more tenants. Since the changes came into effect we have helped more than 19,500 people to buy their own home, generating £420 million in receipts for new additional affordable housing.

“The new agent service, increased discounts and easier to understand application form will ensure even more families can reap the rewards of their hard work and enjoy the security and peace of mind that comes from owning your own home.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

More2life unveils Tailored Interest Reward lifetime mortgage

More2life has launched its latest lifetime mortgage, Tailored Interest Reward, designed to provide later...

Pivot provides complex multi-loan deal for Denby Dale development

Pivot has completed a funding package consisting of three loans for a residential development...

HREF reports record month for lending

Hilco Real Estate Finance (HREF) has recorded its strongest month to date, completing three...

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Other news

More2life unveils Tailored Interest Reward lifetime mortgage

More2life has launched its latest lifetime mortgage, Tailored Interest Reward, designed to provide later...

Pivot provides complex multi-loan deal for Denby Dale development

Pivot has completed a funding package consisting of three loans for a residential development...

HREF reports record month for lending

Hilco Real Estate Finance (HREF) has recorded its strongest month to date, completing three...