What is the right to buy discount in Greenwich?

Your discount is based on the number of years you've been a public sector tenant. The maximum discount amount in the Royal Borough of Greenwich is £16,000. This increases every April in line with the Consumer Price Index (CPI). This discount will apply to applications made on or after 6 April 2024.

How much discount do you get with the Right to Buy?

For houses, the discount is 35%, going up by 1% for every year over and above the five years you have been a public sector tenant (up to a maximum of 60%). For flats, the discount is 50%, which goes up 2% for every year over and above the five years that you have been a public sector tenant (up to a maximum of 70%).

What is the single person discount in Greenwich?

If you live by yourself and you're over 18, you'll be eligible for a 25% discount if the property is your sole or main home. You must continue to pay Council Tax while you wait for us to decide if you're eligible for a discount. If you do not pay, we'll start the Council Tax recovery process.

What are the negatives of the Right to Buy scheme?

The cons of the right to buy scheme:

Stigma – properties bought on the scheme are likely to be in tower blocks or estates which means the appearance of them will negatively affect the financial inflation of the property. Some mortgage lenders aren't keen on ex-local authority property, especially high-rise tower blocks ...

Can I still buy my council house in 2025?

Updated: March 2025

Yes, if you're a council tenant, you may be eligible to buy your home through the Right to Buy scheme, which offers substantial discounts based on your length of tenancy.

Think You Can’t Afford to Buy? Think Again (Right to Buy Explained)

How long does the Right to Buy process take?

Each application is different. It will usually take around 6-9 months from submitting your application to completing the sale. However, it could take much longer depending upon what you decide to do and the circumstances surrounding your application.

Is it a good idea to buy my council house?

One of the main benefits of buying an ex-council house is the relatively lower cost compared to privately built properties. Due to their more modest designs and simpler finishes, ex-council homes can be an attractive option for first-time buyers and those on a tighter budget.

What's the catch with the help to buy scheme?

Under the Help to Buy scheme, buyers are required to repay an equity loan of up to 20% of the property's value after five years. While the Help to Buy equity loan is interest-free for the first five years, interest will be charged from year six onwards.

What properties are excluded from the Right to Buy?

Are they removing the Right to Buy?

The government intends to remove the formal one-for-one Right to Buy replacement target but calls on councils to go over and above replacing sold stock and to play a central role in the government's commitment to deliver a generational increase in social and affordable housebuilding.

What is free in Greenwich?

Top free things to do in Greenwich. A day trip to Greenwich doesn't need to break the bank. In fact, many of the highlights of this UNESCO World Heritage Site are free, including the permanent galleries of the National Maritime Museum and Queen's House, as well as the grounds of the Old Royal Naval College.

How long can someone stay before paying Council Tax?

There is no set amount of time someone can go without paying Council Tax as the consequences of not paying can vary depending on the country or region in question. However, failure to pay Council Tax can result in serious consequences, including legal action, asset seizure, and even imprisonment.

What is the Greenwich Council leasing scheme?

If your property is accepted for the leasing scheme, we will guarantee your rental income for the whole of the time that your property is leased to us and you may be eligible for a one-off incentive payment for each property. We pay an agreed amount to you every month and we collect the rent from the tenant.

How much is a solicitor for a Right to Buy?

How much are Right to Buy solicitor fees? For a Right to Buy purchase based on a £292,000 property, costs average £2,095 for a freehold and £2,955 for a leasehold, with some cases adding a £200 supplement fee.

Can I buy my council house on universal credit?

In practice, though, mortgage lenders may take issue with the fact that you are on benefits. Your options are: High street mortgage lenders – If you claim housing benefits, universal credit and additional income streams are considered when assessing mortgage applications from council tenants.

Can I withdraw from Right to Buy?

You can withdraw your application at any time up to the completion of purchase. If you change your mind after you apply, you may still have to pay the solicitor and survey costs.

How long does a Right to Buy offer last?

Formal offer

You have 12 weeks from the independent valuation to accept the valuation or pull out of the sale. Read more about formal offers for: right to buy.

Can I gift my mum money to buy her council house?

Family members can give you the money to buy your home. However, they will not be included in any of the Right to Buy documentation unless they have been living with you as their main or principal home for 12 months immediately preceding the application.

Is it better to rent or council house?

The social housing provided by councils is sometimes referred to as 'council housing'. Social housing is likely to be cheaper than privately rented housing and can also offer greater security from eviction. It may be a good option if you need an accessible or adapted property.

Can I be refused the Right to Buy?

Reasons your application may be refused

Your Right to Buy application will be denied if: you are not a secure (long-term) tenant. any tenant on a joint tenancy has not given their consent. we cannot verify your identity or eligibility.

Can I rent my house after Right to Buy?

Most council or housing associations will allow you to rent out your Right to Buy property once you have lived there for a set amount of time. But do take advice from the organisation that sold you the property, as well as your mortgage lender if appropriate.

Is Right to Buy worth it?

There are lots of reasons why you might want to buy using Right to Buy. As well as attractive discounts on offer, your home could be a valuable asset for you and your family and an investment for the future. Owning your own home could also give you more freedom to make the changes you want to your home.

What is the Right to Buy discount 2025?

In 2025, the most you can get as a Right to Buy discount is: Up to 60% off the price of a house, with a maximum cap of £102,400 (or £136,400 if your home is in London). Up to 70% off the price of a flat, with the same maximum caps.

How many people use Right to Buy?

New figures published by the government found that Right To Buy (RTB) sales overall were down by 43% in the capital, as sales fell in every UK region last year. According to the data, there were 6,275 sales In London last year – down from 14,085 sales the year before.

Can I get a mortgage on a Right to Buy?

Affordability criteria for Right to Buy mortgages

If you need a mortgage to buy your council home you'll be subject to the same mortgage affordability criteria as any other mortgage applicant. Your income and expenditure will be assessed and you'll have to pass the lender's credit check.