The Right to Buy is a Government scheme that allows some tenants to purchase the property that they rent from the council. For eligible tenants the price of the property will be offered at a price lower than the full market value.
You do not have the Right to Buy until you have spent at least three years as a public sector tenant and you are currently a tenant of a Right to Buy landlord. The council is such a landlord.
Who cannot buy?
Once the council has received a properly completed Right to Buy application form (RTB1), it must adhere to certain deadlines set down by the Housing Act 1985. Assuming the applicant has a right to buy, the property will be valued and a formal offer notice sent out to you. If you wish to accept the offer, the papers will then be sent out to the council's legal team to complete the necessary conveyancing.
What discount will I receive?
You could receive up to a maximum discount of £78,600 depending on the amount of time that you have been a tenant.