Selling the Property You Bought Under Right to Buy

Repaying your discount

You'll have to repay your discount if you sell your home within five years of buying it.

You’ll have to pay back all of the discount if you sell within the first year.

After that, the total amount you pay back reduces to:

• 80% of the discount in the second year
• 60% of the discount in the third year
• 40% of the discount in the fourth year
• 20% of the discount in the fifth year

The amount you pay back depends on the value of your home when you sell it.

 

Right of first refusal

You must offer your home back to us if you purchased your home: 

• on or after 18 January 2005
• you wish to sell within the first ten years

You must offer it back to us to purchase at the full market value.

The market value must be agreed between all. If they are unable to agree, it will be decided by a District Valuer.

If we do not wish to purchase, you are free to sell the property in the open market.