What is the Right to Buy scheme? 
 
It is a Government scheme which may allow you to buy your home at a discounted price from us. The Right to Buy procedure and the price at which homes can be bought for are governed by legislation.

Can I buy my home from BCHA?

 If you were an existing secure tenant of Walsall Council at the time of the Large Scale Voluntary Transfer (26th March 1996), you will have started your tenancy with BCHA with a “Preserved” Right to Buy. 

This means that as long as you remain a tenant of BCHA you will be able to apply to purchase your property under the Preserved Right to Buy scheme at the current market value, less a discount based on the length of your tenancies. 

Who can’t buy under Right to Buy?

You can’t buy through the scheme if: 
  • the property isn't your main home
     
  • the property isn't self-contained (has a shared kitchen or bathroom)
     
  • there is a court order saying you must leave your home
     
  • you are 'un-discharged bankrupt' (you can’t borrow money)
     
  • you owe money to creditors

Some homes won’t be sold through Right to Buy, e.g. if your home is suitable for housing the elderly or disabled.

How much discount will I get?

 If you qualify, you can get a discount on the market value of your home when you buy it. Your home’s market value is the price it would fetch if it was sold.

The discount is based on:
  • how long you have been a tenant
     
  • where you live
     
  • the type of home you are buying (a flat or a house) 

If you have previously had a discount to help you buy a council home, this may be taken off your Right to Buy discount.

Discounts for a house range from 32% to 60% and for a flat they range from 44% to 70%. However, in both cases the maximum discount anyone can have is capped at £26,000 in Walsall. 

Mortgages and other costs of buying a home

Unless you can buy your home with cash, you'll need to borrow money through a mortgage. Make sure you will have enough money to pay your mortgage each month and other bills like Council Tax, insurances, utility bills, etc.

If you buy a flat, you’ll also have to pay a ‘service charge’ towards the upkeep of the whole building and repairs.

If you don’t pay your mortgage, your lender can take you to court and you could lose your home.  Because you will not be our tenant, we do not have to find you another home.

You will also be responsible for keeping your home in good repair. This includes regular maintenance costs such as gas/central heating servicing, exterior painting, as well as major repairs such water drains, home security, boiler replacement or electrical repairs/rewiring etc.

Selling your home at a later date

If you sell your home within 5 years of purchase, you will have to repay to us a proportion of the discount you received. The repayment will be based on a percentage of the resale value (disregarding the value of any improvements you have subsequently carried out). 

If you wish to sell within 10 years of purchase you must first offer it at market value to us. If we do not accept the offer within 8 weeks you will be free to sell the property on the open market.

How do I apply?

 You will need to complete an application form available from us and return it. Or you can download from the following link
·         Download the Right to Buy application form (RTB1)
What happens next? 
 
For all of the stages of the Right to Buy process, follow the below link: Or contact us. 
 
          ·         Applying to buy your home through Right to Buy