Can I exercise right to buy after mortgage rescue?

marushkababy

Hello All, a few years a go we had to go through mortgage rescue and a housing association bought our house off us and we rented it back. At the time it seemed like the right thing to do, we have kids and didn't want to be homeless. Over the years we have really wished we had tried a bit harder to keep the house and regretted our decision to go through the mortgage rescue.
What I would like to ask is in the next 5-10yrs we would like to buy a house again. We are in a much better financial position and as long as we work hard and carry on like this, I see no reason why we can't own our own home again. So my question is this: would the housing association let us exercise our right to buy even though we have been through the mortgage rescue? I understand we can always buy another house when we are ready but this is our home and it would be a lot less disruptive to stay here. I hope someone on here can help me. Many thanks

stator

Housing associations aren't subject to right to buy, unless the property was council owned when you took it on.

antrobus

stator wrote: »

Housing associations aren't subject to right to buy, unless the property was council owned when you took it on.

That would be preserved RTB. Housing associations are however subject to right to acquire.

https://www.gov.uk/right-to-acquire-buying-housing-association-home/overview

However I don't think this would apply for a property acquired under the mortgage rescue scheme.

Google says this sort of thing;

If at any time you wish to buy your home back you should talk to the housing association. It is likely that they will only sell it at its true value at that time; this could be considerably higher than the price they paid for it. You will have no legal 'right' to buy or discount.

http://www.bury.gov.uk/index.aspx?articleid=1927