1. Overview of right to buy
If you have held a tenancy with us for 3 years or more you can apply to buy your own home.
You cannot buy the property if:
- you live in a property that is designed for people with a disability
- you live in a property that is particularly suitable for the elderly and was let to be lived in by someone aged 60 or more
- you work for us and your home is part of your conditions of service (this only applies in some cases)
- you are an introductory tenant
You can buy the property with anyone in your family who is a joint tenant. You can buy the property with up to 3 members of your family who are not joint tenants if the property is their main home. Anyone (except your husband or wife) who is buying the property must have lived with you for 12 months before you apply to buy.
The right to buy scheme gives you a discount on the market value of your home. The longer you have been a tenant, the more discount you get, up to a maximum limit of £84,200.
When you make a right to buy application any outstanding repairs or further request for repairs to your home will be suspended. This is to ensure that the valuation remains consistent throughout the process of the right to buy. Only urgent repairs will be carried out.
Tenants of houses and bungalows can purchase their property freehold whereas those in flats can purchase a 125 year lease. If you want to buy your flat or maisonette, you will be buying the leasehold from us. As a leaseholder you have to pay us a nominal rent (known as a ground rent). We will also make an annual service charge for:
- communal repairs
- communal maintenance
- cleaning of communal areas and the estate
- ground rent
- communal lighting charge
- management charge
We maintain an on-going relationship with leaseholders, looking after communal areas, structural repairs and improvements to flats.
Remember if you decide to purchase your house or flat you will have to pay for the following fees:
- solicitors fees
- land search fees
- land registry fees
- stamp duty
- conveyancing fees
- structural survey fee
- deal with all enquiries and applications within the time limits set by the government
- re-invest the money raised from sales to benefit the residents of Exeter
- charge and collect a service charge to leaseholders for regular maintenance work
- collect from each leaseholder a contribution towards improvements carried out in their block of flats
- give estimates for work to leaseholders