Right to Buy

If you are a former tenant of Sevenoaks District Council, who transferred to West Kent Housing Association on the 23rd March 1989, you may have the Right to Buy (RTB) your home.  In this case you will have an 'Assured/Protected' tenancy status.  The exception to this is if you undertook a mutual exchange with a tenant who did not have the right to buy, meaning you will have lost your 'Assured/Protected' tenancy status.

An 'Assured/Protected' tenant has the right to buy the freehold (or leasehold if living in a flat) of the property if:

  • the dwelling house is one that transferred across from Sevenoaks District Council on the 23rd March 1989;
  • West Kent owns the freehold; and
  • the dwelling is your only or principal home.

 

The Right to Buy is not means tested. Tenants receiving income support or housing benefit may apply to buy.

The price payable for the property is based on the open market valuation at the date of the application. You will be eligible for a discount on this price.

 

The Right to Buy process

 

Initial application forms are available at each office of the Association or despatched on request from the RTB Sales Section accompanied by the booklet 'Your Right to Buy Your Home', 'Thinking of buying a council flat?' (for perspective Leaseholders), and an Insolvency Declaration.

If you decide to return your completed RTB application form to the Association, in view of the fact that you have submitted an application to purchase, we will not include you in any proposed contracts for major repairs or improvements on your property whilst you have a valid application in progress.

Once the application is received, the Association checks your tenancy status and length of tenancy.  The Association will then instruct an independent Valuer (which the Association pays for).  The Valuer will arrange a convenient time with you to come and value your home.  The Valuer will then submit the valuation to the Association. They will deduct an amount for any improvements to your home that you have paid for.   We will deduct your discount entitlement (at this time the maximum discount allowable is £38,000) and issue you with the sale offer.

There is a special rule called the 'cost floor' which may apply to your home and can limit the amount of discount given.  If your property is affected by this rule we shall say so in the sale offer.  More information is provided in the booklet 'Your Right to Buy your home'.

 

Costs likely to be incurred if you buy and after as a home owner
 
There are a number of costs involved when buying a property, these include, but are not limited to :
  • Solicitor’s legal fees
  • Valuation fee from your lender, if buying with a mortgage
  • Structural survey fee
  • Stamp Tax (Inland Revenue Tax paid on a percentage of the cost of the property, which goes up in bands)
  • Mortgage arrangement fee (sometimes)
  • Land Registration fee
  • Local Search fees     
 
There are other costs to consider once you are a home owner : 
  • Monthly mortgage payments
  • Council Tax
  • Water Rates 
  • Buildings and Contents Insurance
  • Life Assurance
  • Mortgage protection insurance
  • Major repairs and maintenance costs
  • Utility services bills
 
Your home will be at risk of re-possession if you do not keep up your mortgage payments.

PDF File Right to Buy  (249 KB)

Date Published : 15/12/2005

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