If you sell your property within the first five years of purchasing through the right to buy scheme, you will have to repay some or all of your discount.
A sale in the first year will result in 100% of the discount being repayable. This reduces by 20% for each full year of ownership, so that a sale during the fifth year of ownership results in only 20% of the discount being repayable.
The discount repayable is based on a percentage of the open market value of the property at the time of sale - the owner's improvements are disregarded.
If you purchased your home under the right to buy scheme on or after 18 January 2005, and you wish to sell or dispose of it within the first ten years, you must first offer it back to us to purchase at the full market value.
The market value must be agreed between the parties or, if they are unable to agree, will be determined by the district valuer.
If we do not wish to purchase the property back from you, you are then free to sell the property in the open market.