Voluntary Right to Buy
The government recently announced the introduction of a new, voluntary Right to Buy scheme for Housing Associations. The scheme is currently being piloted by five housing associations and Stonewater expects to participate once more details are known and agreed.
We will update this page when more information becomes available.
Existing Right to Buy/Acquire schemes
The Right to Buy (RTB) and Right to Acquire (RTA) schemes give eligible residents the opportunity to buy their rented home, aided by a discount from the market price.
The key difference is that RTA applies a much lower discount – typically £11,000 – than RTB, which goes up to £70,000. They are subject to different eligibility criteria; see below.
Who is eligible?
Depending on your tenancy and how or when your home was built, you may have the Preserved Right to Buy or the Right to Acquire your home at a discount. The majority of Stonewater tenants do not have the Right to Buy. You will not have the RTA or RTB if you live in a sheltered or supported residence, as these are exempt from the provisions.
To find out whether you are eligible to purchase your home through these schemes, please visit http://righttobuy.communities.gov.uk/where you can see if you may be eligible.
The Right to Buy Agency also has an eligibility quiz you can use to check if you think you may be eligible.
How do I know if I’m eligible for Right to Buy?
You probably have the Right to Buy if you were a secure tenant who entered your tenancy agreement prior to 15 January 1989 (as you have the same Right to Buy under the 1988 Housing Act as council tenants do under the 1985 Act).
How do I know if I’m eligible for Right to Acquire?
You may have the Right to Acquire if you became a tenant of Stonewater after May 2004 and also If you satisfy the initial qualification period of 5 years if your tenancy began on or after 18 January 2005 or two years if your tenancy started before 18 January 2005.
Further guidance is available from the Communities and Local Government Department