Right to buy - Greater Manchester area

Foxwold_2

Hi,

I have lived in a flat in altrincham since 2006.

The flat was owned by the council, but sold to a housing association in 2005.

I was initially told I'd qualify for the right to buy by the council, as it was previously owned by them. But they have now rejected me as I moved in after they sold it.

I'll a little bit suspicious as they previously said I did.

Can anyone shed any light for me?

silvercar

Do you have their agreement in writing?

da_rule

Who is your landlord, the Council or the Housing Association? If it is the Housing Association then you can apply to them under the Right to Acquire.

If your landlord is the Council, it may be that they are themselves leasing it from the Housing Association and then subletting it to you. In that case, they cannot sell the leasehold to you as it is not theirs to sell.

Depending exactly on your circumstances, you could have a preserved Right to Buy. Were you a secure Council tenant prior to moving into the flat?

Foxwold_2

Hi,

No the council told me over the phone.

It is now owned by the housing association.

da_rule

Foxwold wrote: »

No the council told me over the phone.

Could just be someone didn't realise that the flat no longer belonged to the Council.

Were you a secure Council tenant prior to moving to that flat, or was that your first social tenancy?

KevSwift

Hi, I am looking for some help regarding the right to buy scheme. The information I have read seems to be way over my head or simply speculation as nothing seems to be written in stone. I have started the process rolling and this morning received a letter confirming the valuation which includes the £9000 discount. On this site I read that the right to acquire discounts are changing to be similar to that of the Right to Buy scheme. Does anybody know if this is true and if so when is this likely to happen? I'm only asking as I don't know whether it's best to wait so I get a better discount as I'm also finding it hard to find 100% mortgages. Help would be much appreciated. Many Thanks. Kev.

Mr.Generous

KevSwift wrote: »

Hi, I am looking for some help regarding the right to buy scheme. The information I have read seems to be way over my head or simply speculation as nothing seems to be written in stone. I have started the process rolling and this morning received a letter confirming the valuation which includes the £9000 discount. On this site I read that the right to acquire discounts are changing to be similar to that of the Right to Buy scheme. Does anybody know if this is true and if so when is this likely to happen? I'm only asking as I don't know whether it's best to wait so I get a better discount as I'm also finding it hard to find 100% mortgages. Help would be much appreciated. Many Thanks. Kev.

Kev, do yourself a massive favour, save a deposit. You will get a mortgage much easier and get offered a better rate. Well worth the struggle to save IMO.

KevSwift

Thank you, but circumstances don't allow me to save as much as a deposit is needed.

Caz3121

KevSwift wrote: »

Thank you, but circumstances don't allow me to save as much as a deposit is needed.

is owning a property the best thing for you in that case?
How would the mortgage payment compare to the current rent figure? (the higher the LTV the higher the interest rate)
What happens re maintenance of the property - new boiler needed? roof repaired?

horseymchorseface

KevSwift wrote: »

Thank you, but circumstances don't allow me to save as much as a deposit is needed.

If you can't save now, it is unlikely you can maintain a house. You think the interest rates are ok now, the lenders usually stress your payments up to extra 5+%