Right to buy
Reselling your home
If you apply for the right to buy, and sell within five years of buying, you will have to repay some or all of the discount that you received. If you sell your property within;
- year 1 - 100% must be repaid
- year 2 - 80% must be repaid
- year 3 - 60% must be repaid
- year 4 - 40% must be repaid
- year 5 - 20% must be repaid
The repayment of the discount will be a percentage of the market value of the property when it is re-sold within the first five years of purchase.
- after 5 years the property can be sold without a discount being repayable
If you wish to sell within ten years of buying, you must first offer it back to your landlord, who would have to pay the full value of the property.
Last updated Monday, 27th March 2017