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Right to acquire/Right to buy, *Housing Association*
gh123
Posts: 39 Forumite
Hello,
I am aware that the normal process for Tenants in Housing Associations to buy their rented property is called Right To Acquire, whereas, Council Tenants use Right To Buy.
I have, however, heard that there is an ongoing trial in England where Housing Association Tenants are participating in Right to Buy, not Right To Acquire.
Has anyone here heard of this trial and do you have any idea when it is due to conclude and be rolled out nationally or cancelled?
Also, what does a Housing Association get out of participating in Right To Acquire or Right To Buy? What's in it for them? Or is it a government thing that they'll get fined if they don't sell off a percentage?
It looks to me like they are selling off property and losing money so I don't understand what's actually in it for them?
Sorry for all the questions by the way!
My situation - I am in a 50% Shared ownership house in England and have been the Tenant since it was built 13 years ago. I have not increased my share from the original 50%.
What Rights do I have under Right To Acquire to get a discount on the rest of the property? I have spend a lot of money on rent here over the past 13 years. Is it the case that a fully rented Tenant can get a discount but a Shared ownership Tenant can not? If not, why not?
I am considering buying the other half or selling and trying to get a slightly larger property due to lack of space for a growing family.
I wouldn't like to sell-up and miss out on a discount if I was allowed one.
Any replies would be appreciated
Thanks.
I am aware that the normal process for Tenants in Housing Associations to buy their rented property is called Right To Acquire, whereas, Council Tenants use Right To Buy.
I have, however, heard that there is an ongoing trial in England where Housing Association Tenants are participating in Right to Buy, not Right To Acquire.
Has anyone here heard of this trial and do you have any idea when it is due to conclude and be rolled out nationally or cancelled?
Also, what does a Housing Association get out of participating in Right To Acquire or Right To Buy? What's in it for them? Or is it a government thing that they'll get fined if they don't sell off a percentage?
It looks to me like they are selling off property and losing money so I don't understand what's actually in it for them?
Sorry for all the questions by the way!
My situation - I am in a 50% Shared ownership house in England and have been the Tenant since it was built 13 years ago. I have not increased my share from the original 50%.
What Rights do I have under Right To Acquire to get a discount on the rest of the property? I have spend a lot of money on rent here over the past 13 years. Is it the case that a fully rented Tenant can get a discount but a Shared ownership Tenant can not? If not, why not?
I am considering buying the other half or selling and trying to get a slightly larger property due to lack of space for a growing family.
I wouldn't like to sell-up and miss out on a discount if I was allowed one.
Any replies would be appreciated
Thanks.
0
Comments
-
I may be very wrong but i understood right to aquire to be for social housing tenants.
Not a way of shared owners to increase their ownership on the cheap.
Its a way for people to get on the ladder so to speak. You are already on it0 -
https://www.gov.uk/right-to-acquire-buying-housing-association-homeEligible properties
Your property must either have been:- built or bought by a housing association after 31 March 1997 (and funded through a social housing grant provided by the Housing Corporation or local council)
- transferred from a local council to a housing association after 31 March 1997
0 -
You are not a tenant therefore you would not qualify.
If you want to increase your share of the property then you need to look at the relevant title documents for information on how you staircase.0 -
I have, however, heard that there is an ongoing trial in England where Housing Association Tenants are participating in Right to Buy, not Right To Acquire.
Large second pilot scheme due to start in the Midlands in the next few months
Has anyone here heard of this trial and do you have any idea when it is due to conclude and be rolled out nationally or cancelled? 1 year trial. National roll out unlikely to start until this has finished.
Also, what does a Housing Association get out of participating in Right To Acquire or Right To Buy?
RTA is for council homes given to HAs to continue RTB rights. HA RTB is a voluntary agreement offered by HAs as a better alternative to compulsory RTB.
It looks to me like they are selling off property and losing money so I don't understand what's actually in it for them?
HAs will receive the full market value of properties sold enabling them to build replacement homes which, as part of the agreement, they are expected to do.
HAs will benefit by updating their stock at no cost to them.
0
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