Published 1 November 2024 · Last reviewed 14 November 2024
We now know when the Right to Buy discount cut-off date will be.
We wanted to bring your attention to some significant updates regarding the Right to Buy process following a government announcement in this week’s budget.
You can get a Right to Buy discount on the market value of your home when you buy it if you qualify for Right to Buy.
The maximum discount is ยฃ102,400 across England, except in London boroughs where it is ยฃ136,400.
From 21 November 2024 the maximum discount will be reduced. The discount youโll get depends on where you live.
The Right to Buy discount is based on:
how long youโve been a tenant with a public sector landlord
the type of property youโre buying – a flat or house
the value of your home
If youโre buying with someone else, you count the years of whoeverโs been a public sector tenant the longest.
Youโll usually have to repay some or all your discount if you sell your home within 5 years.
You might get a smaller discount if youโve used Right to Buy in the past.
Working out the discount
There are different discount levels for houses and flats.
Right to Buy discount on Houses
You get a 35% discount if youโve been a public sector tenant for between 3 and 5 years.
After 5 years, the discount goes up 1% for every extra year youโve been a public sector tenant, up to a maximum of 70% or ยฃ102,400 across England and ยฃ136,400 in London boroughs (whichever is lower).
Right to Buy discount Flats
You get a 50% discount if youโve been a public sector tenant for between 3 and 5 years.
After 5 years, the discount goes up 2% for every extra year youโve been a public sector tenant, up to a maximum of 70% or ยฃ102,400 across England and ยฃ136,400 in London boroughs (whichever is lower).
If you are currently living in a council home and are considering purchasing it we now know Right to Buy discount date will be on the 21 November, we urge you to get in touch with us as soon as possible. Our team is here to help guide you through these changes and ensure you make informed decisions.
Source of information https://www.gov.uk/right-to-buy-buying-your-council-home/discounts



