Right To Buy vs. Right To Acquire: Understanding Your Options for Buying a Council Home
Right To Buy and Right To Acquire are both schemes allowing council tenants in the UK to purchase their homes at a discount. Right To Buy applies to public sector tenants, while Right To Acquire is for those in housing association properties.
People often mix these up because they serve a similar purpose and have overlapping eligibility criteria. However, the key difference lies in who can use them and the level of discount offered. Right To Buy usually provides larger discounts.
Key Differences
The Right To Buy scheme offers bigger discounts, up to £84,000 across England and £87,000 in London. Right To Acquire, on the other hand, provides discounts up to £16,000, £24,000 or £36,000 depending on the area and the length of tenure. Eligibility also differs, with Right To Buy available to public sector tenants and Right To Acquire for housing association tenants.
Which One Should You Choose?
Your choice depends on your housing situation. If you’re a public sector tenant, Right To Buy is likely your best option. If you’re in a housing association property, Right To Acquire is your pathway. Always check your eligibility and the available discounts in your area.
What is the maximum discount under the Right To Buy scheme?
The maximum discount under the Right To Buy scheme is £84,000 across England and £87,000 in London, depending on the length of tenure and other factors.
Can I use Right To Buy if I live in a housing association property?
No, if you live in a housing association property, you would need to use the Right To Acquire scheme instead, provided you meet the eligibility criteria.
How long do I need to have been a tenant to qualify?
For Right To Buy, you typically need to have been a public sector tenant for at least 3 years. For Right To Acquire, the length of tenure varies but is usually between 3 to 5 years, depending on the specific housing association policy.