Am I Entitled to a Discount on the Purchase Price?

Am I entitled to a discount on the purchase price?

 

If you are eligible to buy your home the level of discount you will receive will depend on your “qualifying period”, and the maximum discount you can receive is set annually at a national level. The maximum discount will increase each year in April in line with the consumer price index (CPI).

 

For 2024/25 the maximum discount is £102,400, applicable on applications served on the landlord on or after 6th April 2024 up to 20th November 2024. From 21st November 2024 applications served on the landlord will be subject to a reduced maximum discount of £34,000.

 

 

Your “qualifying period” is the time you have spent in total as a public sector tenant of a house or flat. It can also include time spent in other types of accommodation such as that provided by the armed forces; further examples are given below of eligible accommodation.

 

You can also count time spent with different landlords at different times and there is no need for continuous occupation. This eligible accommodation includes: -

• Castle Point Borough Council

• Any other “Right to Buy” landlord i.e. another Council, a registered social landlord (housing association) and a number of other landlords who let accommodation on secure tenancies.

• A large number of other public bodies, including the Commission for New Towns, Housing Action Trusts, police authorities, fire authorities, etc.