When can I sell my council house?
Sometimes life can appear stagnant and you may find yourself in the position where some form of change feels needed; and what better way to transform your day-to-day routine than selling your house and moving to a new one for a change of scenery.
Selling a house can occasionally be a difficult process, although, here at FastCash4Houses we are dedicated to making your life easier. So, if you currently reside in a council house and want to move, but are unsure about how to embark on the venture of selling your home, then keep on reading to gain some clarity on your question.
Council houses in United Kingdom are houses which are built for or owned by local councils. They are used to help people rent housing at a much more discounted rate than renting in the private housing sector. In England, prior to the Housing Act of 1980, the public were unable to buy their council homes and had no choice but to rent, meaning they were also unable to sell their homes.
Right To Buy
In 1980, the ‘Right To Buy’ scheme was introduced to allow eligible tenants an option to buy their houses at a discounted rate and then sell them off if they deemed appropriate in regards to their circumstances. Fortunately, with that scheme in place, you are still able to sell your council house, however, there are certain processes and formalities involved if you want to put your house up for sale.
Currently, not all council homes are eligible to be bought and the criteria for eligibility differs across the United Kingdom. According to the British Governments website, you can only buy your council home if:
- it is the main and only home you reside in.
- You are a secure tenant – Meaning you adhere to the conditions of the tenancy.
- You have had a landlord in the Public Sector for 3 years (Which do not have to be consecutive years) – An example of such landlords are a housing association, a council or government department such as the NHS trust)
- Preserved Right To Buy – This is when your house is sold by the council to a public sector landlord whilst you were residing in it. However, you should check with your landlord if you are eligible for this.
How To Buy
There is a Right To Buy calculator available on the governments website for an insight in to the amount of discount you can get on the market value of your home. The discounts vary dependant on factors such as the value of your home. Discounts have a maximum of £84,000 in England, however, the maximum is £112,800 in London. Bare in mind that these prices do inflate with the consumer price index every April
How to Sell
- Selling your home within 10 years of buying: The rules involved mean you must first offer the house to your old landlord or a local social landlord. However, if the landlords do not agree to buy the property within 8 weeks, you can sell it to anyone. The easiest way to sell the house in this situation would be through FastCash4Houses as you can sell your house for free within a quick period of time.
- Selling your home within 5 years of buying: In this case you would pay back the whole or partial amount of the discount, ranging from 20% to 80% depending on what year you sell the property in and the value of your property.
If you would like more information on how you can sell your house in a quick and efficient way to FastCash4Houses, follow this link: https://fastcash4houses.co.uk/. Alternatively, you can get in contact with us to speak to a member of our team directly on 01204 294356 or [email protected].
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