Is this the Right time to Buy from Housing Association??

121casa

Hi,
I live in the Housing Assocn. house and have just started the process of purchasing about 3 weeks ago under the Social Homebuy Scheme, only to read in the papers 2 days ago about the govts. new scheme to help 1st time buyers.
I've lived in the property for 10 yrs now.
I have the "right to acquire" and there is a fixed discount of 10k off the market value.
Would it be advisable to instruct my solicitor to stop the purchasing now and wait......... I am very confused and would greatly appreciate some sound advice. Thanks in advance.

geoffky

I would wait until the gov announces all its scams and schemes first....10k off is nothing at all...

AliceBanned

I wondered about this myself, as I have Right to Acquire. I read through part of the Housing Strategy which is available here:

http://http://www.communities.gov.uk/documents/housing/pdf/2033676.pdf

It isn't clear whether it affects the Right to Acquire, but RtoA is not mentioned anywhere, just Right to Buy and Preserved Right to Buy. I am assuming RtoA won't qualify but I wish it were made clear. Does anyone know more?

Thanks

geoffky

If i was you alice i would contact my mp and ask him/her to find out for you..

http://www.writetothem.com/

121casa

AliceBanned wrote: »

I wondered about this myself, as I have Right to Acquire. I read through part of the Housing Strategy which is available here:

http://http://www.communities.gov.uk/documents/housing/pdf/2033676.pdf

It isn't clear whether it affects the Right to Acquire, but RtoA is not mentioned anywhere, just Right to Buy and Preserved Right to Buy. I am assuming RtoA won't qualify but I wish it were made clear. Does anyone know more?

Thanks

Hi Alice,
Any luck with the M.P.??
I've wrote to him myself but no response yet.
Please let me know how it goes.
Thanx.

AliceBanned

geoffky wrote: »

If i was you alice i would contact my mp and ask him/her to find out for you..

http://www.writetothem.com/

Good idea geoffky, I'll do this. It doesn't look like Right to Acquire is included; they should at least make this clear in the strategy. Mine is ex-council stock.

AliceBanned

121casa wrote: »

Hi Alice,
Any luck with the M.P.??
I've wrote to him myself but no response yet.
Please let me know how it goes.
Thanx.

Hi I haven't done i yet - only just seen these messages. I'll do it this weekend. Let me know how you get on too. Thanks:)

AliceBanned

121casa wrote: »

Hi,
I live in the Housing Assocn. house and have just started the process of purchasing about 3 weeks ago under the Social Homebuy Scheme, only to read in the papers 2 days ago about the govts. new scheme to help 1st time buyers.
I've lived in the property for 10 yrs now.
I have the "right to acquire" and there is a fixed discount of 10k off the market value.
Would it be advisable to instruct my solicitor to stop the purchasing now and wait......... I am very confused and would greatly appreciate some sound advice. Thanks in advance.

By the way I think you have 12 weeks before you have start the ball rolling, with right to acquire. If you pull out you can re-apply at any time. I've done i 3x already due to morgage unavailability for me and changing jobs, just re-applied when I was ready to start again.

AliceBanned

Hi
I've now written to my MP via WriteToThem.com - easy!:j

I did make the comment that it doesn't appear that housing association tenants are getting the same treatment as council tenants, just to make the point that we feel forgotten. Might just persuade him to push the issue if it came to it..

121casa

AliceBanned wrote: »

Hi
I've now written to my MP via WriteToThem.com - easy!:j

I did make the comment that it doesn't appear that housing association tenants are getting the same treatment as council tenants, just to make the point that we feel forgotten. Might just persuade him to push the issue if it came to it..

Alice,
I rec'd the reply today from my M.P:
I will try to clarify what the Minister is proposing and the eligibility for their new scheme. I have written to the Housing Minister to that end but would advise you to look on the govt. internet website yourself to satisfy yourself prior to any decision you might take.

Don't know what you make of this but at least he's tried, I guess. You heard anything yet?

bear1969

and is the new right to buy scheme going to be the same in scotland ?