Buying your rented home
Right to buy
If you are a tenant who transferred from the council to Somer
Community Housing Trust and you have a protected assured tenancy,
you may be entitled to buy your home through your 'preserved right
to buy'.
The discount level varies according to the type of property you
have – the maximum amount is 60 per cent of the value of a house or
70 per cent of the value of a flat.
RTB information sheet.
'Your
Right to Buy Your Home' (Communities and Local Government
booklet)
Right to acquire
If you became a tenant after The Trust was formed and you have
an assured tenancy, you may be able to purchase your home through
your right to acquire.
This discount level is reviewed each year. The maximum discount
is limited to 50 per cent of the value of the property.
RTA information sheet.
Tenant's Notice Claiming the Right to
Acquire form.
Housing
Corporation's Guide to the Right to Acquire.
Factsheets
These leaflets give you more information about buying your
home:
Costs
involved in buying your house.
Costs
involved in buying your flat.
Mortgages and
solicitors leaflet.
Ineligible properties
Under both schemes there are some properties that are protected
from sale by law. Generally these are houses or flats built or
converted to meet particular needs, e.g. sheltered housing, housing
adapted for people with disabilities, or properties with short-term
leases.
Under the right to acquire scheme, properties are also exempt
from sale if they are located in designated rural areas with a
population of 3,000 or fewer. There are other exemptions. For
further information please contact us.
How to apply
Simply complete an application form, which is available from our
office at The Maltings or from your Local Service Centre.
There are some circumstances when a tenant cannot exercise the
right to purchase their property. You will not be able to purchase
your home if:
- You are bankrupt.
- A court has made a possession order which says that you must
leave your home.
Valuation
The value given to your home is based on the open-market value
of the property at the time you submit your application. The
valuation will take into account any improvements carried out by us
in repairing or maintaining your property, as well as any
improvements that you have completed.
Timescale for completion
We will allow you a reasonable time to obtain a mortgage and
take legal advice on purchasing your property. The sale of the
property should be completed within approximately 28 weeks from the
date of the offer notice that we issue.
If you fail to complete your sale within this timescale, your
application to purchase will be withdrawn. To start the process
again, you would need to submit a new application.