Government introduces Right to Buy advisers
A free advice service has been created to help guide council tenants through the process of purchasing their home using the Right to Buy scheme.
Users can ring a helpline to speak to a member of the new Right to Buy agent service, which will be appointed by the Department for Communities and Local Government.
The government said the guidance will help tenants avoid ‘hidden fees’ which can be charged by IFAs.
The Right to Buy scheme enables tenants to purchase their home with a reduction of up to £77,000 outside London and £102,700 in the capital.
Brandon Lewis, housing minister, said: “Under the last government, the Right to Buy was allowed to wither on the vine, killing off hopes of home ownership for most social tenants because of a miserly discount.
“We have reinvigorated the Right to Buy, increasing the discounts available to open it up to more tenants.
“Since the changes came into effect we have helped more than 19,500 people to buy their own home, generating £420m in receipts for additional affordable housing.
“The new agent service, increased discounts and easier to understand application form will ensure even more families can reap the rewards of their hard work and enjoy the security and peace of mind that comes from owning your own home.”
The Right to Buy application form has also been streamlined, with checklists ensuring applicants have fully completed all sections of the form.
Over 19,500 people have become homeowners through the reinvigorated Right to Buy scheme, which was launched in 2012, while maximum cash discounts shift every year based on the Consumer Price Index.