Right to buy scheme changes

At the recent Budget there were some important changes announced by the Government about the Right to Buy scheme and the new cash value maximum discount. These changes will come into effect on 21st November 2024.

From the 21st November 2024 all eligible tenants will still be entitled to apply for the Right to Buy their home, but the new maximum discount figure will be revised to £24,000 on all properties or 70% of the value of your property (whichever is lower)*. The current maximum cash discount, where applicable, is £104,000.00.

Any existing Right to Buy applications will be based on the current discount figures, but any new applications received after midnight on the 20th November 2024, will be subject to the new revised maximum discount figure.

Please click this link for a guide to Right to Buy for more information and to get details about how this change this may affect you.

To discuss the Right to Buy process with the team, please phone 01604 526997 or email the Right to Buy inbox: RightToBuy.NBC@westnorthants.gov.uk.

*Discounts on new build properties are subject to cost floor calculations and you can speak to a member of the Right to Buy team, for further information