Right to Aquire
The Right to Acquire is another scheme that was introduced by the government to allow some tenants to buy their home.
If you do not qualify for the Right to Buy, you may qualify for the Right to Acquire.
To qualify for the Right to Acquire you and your home need to meet the following criteria:
- If your first public sector tenancy started before 18 January 2005, you do not have the Right to Acquire until you have been a public sector tenant for 2 years (this can be at different properties).
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If your first public sector tenancy started after 18 January 2005, you do not have the Right to Acquire until you have been a public sector tenant for 5 years (this can be at different properties).
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Your property must have been bought or built by Swan using grant given by the Housing Corporation or Local Authority on or after 1st April 1997.
How much will it cost to buy your home?
If you apply for the Right to Acquire and your application is successful, Swan will arrange for your property to be valued by an independent, qualified surveyor. If you have the Right to Acquire, you will be entitled to a discount on buying your home from Swan. The level of the discount is decided by the government and varies depdning on which Local Authority area you live in. Unlike the Right to Buy scheme, the discount does not change depending on how long you have been a public sector tenant. The discount you are entitled to will be deducted from the market value of your home and this will be the price at which you can buy your home. The current discounts levels can be found in the information booklet “Your Guide to the Right to Acquire” that you can download on this page, or you can ask your local housing office to send
Further Information on the Right to Acquire:
Click on the link to download the Right to Aquire Leaflet
Please note that the above is meant to give basic guidance only – there are more rules set in law about who can buy their home and we will be able to talk to you about your individual circumstances. For more in depth information about how the Right to Acquire scheme works, please download the booklet “Guide to the Right to Acquire” from this website. Otherwise, please contact us and we will be happy to send you a copy.