The Right to Buy scheme was introduced by the Housing Act of 1980 and amended by the Housing Act 1985. Tenants that qualify for right to buy will receive discount on the open market value of the property; the amount of discount is dependent upon the length of tenancy and the type of property. If a property is resold within five years of the purchase a proportion of the discount would have to be repaid.
Right To Buy Back
The Housing Act 2004 which came into force in January 2005, made further changes to the Right to Buy scheme. One of these changes gave the social landlord the right of first refusal on the resale within 10 years.
The Council is not required to buy back the properties, however we will consider all properties and make a decision on each individually.
Frequently asked questions about Right to Buy Back, Right of First Refusal, and buying back ex-council properties sold through Right to Buy
Post Right to Buy Policy
When you enquire about the Right to Buy Back, we will need the following:
- A statement from the owner or trustee saying that they wish to dispose of the property
- The full postal address of the property being offered
- State there is a covenant regarding buy-back under Right to Buy legislation
- Information about the type of property (ground floor flat, semi-detached etc), the number of bedrooms and details of the heating system
- Details of any improvements or structural changes made since purchasing from the Council
- The open market value of the property
- An address where correspondence can be sent and a contact telephone number
Email the above information to Terri.Hamilton@colchester.gov.uk
Repayment of Right to Buy Discount Waiver
As from 1 April 2015 there will be an administrative charge associated with an application to apply for a discount waiver.>
Making an enquiry about the repayment of Right to Buy Discount Waiver
Before you enquire, please ensure you have read the Frequently Asked Questions and the Policy.
Frequently asked questions about the repayment of Right To Buy Discount
To make an initial enquiry and receive a call back regarding the process and administrative charges related to Repayment of Right to Buy Discount, contact Client Services with the following information:
- The property address, a contact telephone number
- A description of why you need to sell your property
- A description of why you cannot afford to repay some or all of the discount owed
- Evidence to support your case, this could be from the police, a doctor, a psychiatrist or an employer
- Financial evidence, this could include Gross income Mortgage application Mortgage offer Estate agent fees Solicitor fees Stamp duty Savings and investments Other regular outgoings
Cost of enquiry
There will be a non-refundable charge for this work of £290 including VAT.