Right To Acquire

The Right to Acquire scheme is a scheme giving tenants of registered social landlords the legal right to buy the home they currently rent.

The tenant can apply to the landlord to buy the home and obtain a discount on the market value.  Discounts range from £9,000 to £16,000, depending upon where you live and the overall value of your property.

If the property is sold onward in five years, a proportion of the discount is repayable.

The Right to Acquire only applies to properties built or acquired by public funds after 1st April 1997.  Some properties are exempt.

The Right to Acquire does not apply to residents of local authorities who should refer to the Social Homebuy scheme.