Right to Buy Explained | 70% OFF Your Council Home!
Channel: Financial Madness
Date: 2021-05-10

Right to Buy is a government scheme that helps tenants that are in council housing buy their council home with a discount and this discount can be a large one! I walk you through how Right to Buy works and how to be eligible?

Buying your Council Home - Introduced by Margaret Thatcher in 1980, The Right to Buy Scheme allowed council tenants to buy their council home/property at a discount . Under the current scheme, the maximum discount you can get is 70% of the market value of your home or up to a total of £112,800 in London or £84,600 elsewhere in England (this cap increase year on year based on inflation). Your discount amount is determined by your length of time as a council tenant, the type of property and its value.

Chapter Information (Buying your Council Home) :
0:00 Introduction
0:58 What is Right to Buy?
1:44 Who is eligible for Right to Buy?
3:40 How much is the Right to Buy Discount?
7:12 Right to Buy Application Process
8:16 The Mortgage Process

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▶Gov.uk - Right to Buy Your Council Home
https://www.gov.uk/right-to-buy-buying-your-council-home

DISCLAIMER - Any advice or (statements perceived to be advice) given in this video and any other videos on my channel are for information purposes only, and does not act as financial advice.  Your  are fully responsible for your financial decisions. If you are in need of Financial Advice, please seek out a professional advisor. If your are unsure on how to do this, feel free to reach out to me and I am more than happy to guide you.

#RightToBuy #PropertyMarket #HomeBuying