Customers who were previously tenants of either Redcar & Cleveland Borough Council or North Yorkshire Council, when their properties were transferred to us and have remained a customer since that date, are likely to qualify to purchase under the Preserved Right to Buy scheme. Under this scheme, purchasers are entitled to a discount up to a maximum of £102,400* or 70% of the value of your property (whichever is the lowest), depending on the length of your tenancy.
*As of 11.59pm on Wednesday 20 November 2024, the discount you may qualify for will be changing from £102,400.00 to either £22,000.00 for properties in the North East or £24,000.00 for properties in Yorkshire or 70% of the value of your property (whichever is the lowest).
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Customers who live in an eligible property are likely to qualify to purchase their home under the Right to Acquire scheme which has a fixed discount for all properties in our operating area of £9,000 (this figure is set by the government). Customers need to have a tenancy history of three years with a registered social landlord in order to qualify.
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Customers who have been tenants of social/affordable housing for more than three years, and have lived in their current home for at least 12 months, may be eligible to purchase shares in their current home under the Right to Shared Ownership (RTSO) scheme. This scheme offers you the chance to buy an initial share in your current home worth between 10% and 75% of its market value on shared ownership terms. You will pay rent to your landlord on the rest.
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