Buying your home
Did you know that if you currently rent a home with us you may be able to buy it at a very attractive price?
Right to Buy
‘Right to Buy’ allows tenants living in Council owned homes to buy their home. It can also apply to tenants living in housing association homes.
The ‘Right to Buy’ does not apply to all of Regenda’s residents, only to those who meet certain conditions.
These conditions can be very confusing, but as a quick guide you may qualify if:
- you have a Secure Tenancy i.e. one that started before 15 January 1989 and were a tenant at that time with Maritime Housing Association
- you have a protected Assured Tenancy granted by Maritime Housing Association
- you have a protected Assured Tenancy granted by Wyre Housing Association
- you have a protected Assured Tenancy granted by Limehurst Village Trust.
You must have been a council or housing association tenant for at least five years. There are some of our homes that cannot be bought under the ‘Right to Buy’.
For those who qualify, the ‘Right to Buy’ gives very generous discounts on the purchase price of their home. The maximum discount currently available in the North West is £77,900 with an upper limit of 60% of the value for a house or 70% for a flat (whichever is the lower). The discount received depends on the number of years you have been a tenant.
If you think you may qualify to buy your home under the ‘Right to Buy’ and want more details please contact us on 0344 736 0063.
Right to Acquire
If you do not qualify to buy your home under ‘Right to Buy’ you may be able to do so under the ‘Right to Acquire’.
You may qualify for the ‘Right to Acquire’ your home if you have an Assured Tenancy and live in a property that was built or bought with public funds or transferred from a local authority to Regenda Ltd after 1 April 1997.
The maximum discount for homes that qualify under the ‘Right to Acquire’ is up to £9,000 off the open market valuation of the property.
There are some of our homes that cannot be bought under the ‘Right to Acquire’. Also there are some criteria which may prevent you from buying your home.
If you think you may qualify to buy your home under the ‘Right to Acquire’ and want more details please contact us 0344 736 0063.
Government policy on Right to Buy is changing, please keep an eye on these pages for updates.
Shared ownership is a low-cost stepping stone towards owning your own home - you buy a share in the property and pay rent on the remaining share. Think shared ownership could be for you? Find out more with our sister company Redwing Living.