Right to buy question.

Mgman1965

Basically, how long do you have to be a LA/HA tenant before RTB kicks in ?

I ask as near me the HA who manages the councils housing stock built 2 blocks of very nice new 2 bed flats just under 5yrs ago on a brownfield site in a nice all private area.

Within the last year, at least 2 have now come up for sale, both unoccupied at time of sale with no upper chain.

Just seems wrong for social housing to be built, and then sold (after being bought by tenant at a discounted price no doubt) onto the private market and lost forever, so soon after being built and likely just one social housing tenant for less than 4yrs.

Caz3121

Mgman1965 said:

Basically, how long do you have to be a LA/HA tenant before RTB kicks in ?

https://www.gov.uk/right-to-buy-buying-your-council-home

• you’ve had a public sector landlord (for example, a council, housing association or NHS trust) for 3 years - it does not have to be 3 years in a row

Mgman1965

Caz3121 said:

Mgman1965 said:

Basically, how long do you have to be a LA/HA tenant before RTB kicks in ?

https://www.gov.uk/right-to-buy-buying-your-council-home

• you’ve had a public sector landlord (for example, a council, housing association or NHS trust) for 3 years - it does not have to be 3 years in a row

That's so wrong, with the critical shortage of social housing,  RTB should be finished  or continuous tenant in same property for 10yrs or more.

marcia_

Mgman1965 said:

Caz3121 said:

Mgman1965 said:

Basically, how long do you have to be a LA/HA tenant before RTB kicks in ?

https://www.gov.uk/right-to-buy-buying-your-council-home

• you’ve had a public sector landlord (for example, a council, housing association or NHS trust) for 3 years - it does not have to be 3 years in a row

That's so wrong, with the critical shortage of social housing,  RTB should be finished  or continuous tenant in same property for 10yrs or more.

 You are right. Only good thing is the shorter time they have been a tenant the smaller the discount 

strawb_shortcake

If you sell within 5 years, you repay some of the discount, I think the previous landlord also has first refusal up to 10 years? 

If they were built under 5 years ago, and they've already sold, that's not a huge amount of time to rent, buy and sell. When we bought under RTB it took around 9/10 months to complete.

It may have been affordable housing, shared ownership, the HA selling. Also the Right to Acquire is far less generous than the previous RTB

Mgman1965

strawb_shortcake said:

If you sell within 5 years, you repay some of the discount, I think the previous landlord also has first refusal up to 10 years? 

If they were built under 5 years ago, and they've already sold, that's not a huge amount of time to rent, buy and sell. When we bought under RTB it took around 9/10 months to complete.

It may have been affordable housing, shared ownership, the HA selling. Also the Right to Acquire is far less generous than the previous RTB

I found this property on the Rightmove Android app and wanted you to see it: https://www.rightmove.co.uk/properties/151017455

Looks a bargain compared to private flats, 

Peppercorn ground rent

Service charge under £250 a year

New build so unlikely any big bills for repairs anytime soon.

GrumpyDil

The listing says "We are advised that the sellers will be granting a new 990 year lease".

That makes me think this is being sold by the freeholder rather than someone who purchased under RTB, so history would be interesting.

poseidon1

Mgman1965 said:

strawb_shortcake said:

If you sell within 5 years, you repay some of the discount, I think the previous landlord also has first refusal up to 10 years? 

If they were built under 5 years ago, and they've already sold, that's not a huge amount of time to rent, buy and sell. When we bought under RTB it took around 9/10 months to complete.

It may have been affordable housing, shared ownership, the HA selling. Also the Right to Acquire is far less generous than the previous RTB

I found this property on the Rightmove Android app and wanted you to see it: https://www.rightmove.co.uk/properties/151017455

Looks a bargain compared to private flats, 

Pepperoni ground rent

Service charge under £250 a year

New build so unlikely any big bills for repairs anytime soon.

I love the idea of a 'pepperoni ground rent' ! ( curse of predictive spelling assistance no doubt)

Mgman1965

GrumpyDil said:

The listing says "We are advised that the sellers will be granting a new 990 year lease".

That makes me think this is being sold by the freeholder rather than someone who purchased under RTB, so history would be interesting.

Which to me, begs the question why would a social housing provider for the LA be selling off nearly new flat/s instead of giving them  to those in real need on the housing waiting list ?

Bookworm105

Mgman1965 said:

GrumpyDil said:

The listing says "We are advised that the sellers will be granting a new 990 year lease".

That makes me think this is being sold by the freeholder rather than someone who purchased under RTB, so history would be interesting.

Which to me, begs the question why would a social housing provider for the LA be selling off nearly new flat/s instead of giving them  to those in real need on the housing waiting list ?

possibly because the development was a mix of social housing to be retained by Greatwell Homes and private units built from the outset to be sold off to fund the development...?

strawb_shortcake

Mgman1965 said:

strawb_shortcake said:

If you sell within 5 years, you repay some of the discount, I think the previous landlord also has first refusal up to 10 years? 

If they were built under 5 years ago, and they've already sold, that's not a huge amount of time to rent, buy and sell. When we bought under RTB it took around 9/10 months to complete.

It may have been affordable housing, shared ownership, the HA selling. Also the Right to Acquire is far less generous than the previous RTB

I found this property on the Rightmove Android app and wanted you to see it: https://www.rightmove.co.uk/properties/151017455

Looks a bargain compared to private flats, 

Peppercorn ground rent

Service charge under £250 a year

New build so unlikely any big bills for repairs anytime soon.

Purely a guess, but as its fixed price it might still form part of the affordable housing quota, possibly a specific ratio to average salary or something