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  10 STEPS TO OWNING YOUR COUNCIL PROPERTY   

1. Get a Right to Buy form (RTB1) from your Landlord or us.
   Complete it carefully, as it is used to decide:
   a. Whether you have the Right to Buy
   b. How much discount you will get
   
   We can help you to complete the form if you wish and we will take a copy and return it to your landlord by recorded delivery.
   
2. Your landlord will send you a response notice (RTB2), telling you if you have the Right to Buy. This is usually recieved within four weeks from the date on which your landlord recieved your RTB1 form.
   
3. If your landlord has agreed to sell your home to you, he must send you a seperate offer notice (known as the Section 125 notice) which tells you the price you have to pay and the terms and conditions of the sale. The landlord must send this within a further 8 weeks after you have recieved your RTB2 form.
   
   The Section 125 document is very important and you should read it very carefully.
   
   It will tell you 5 main things -
   
   a. It will describe the property of which you have the Right to Buy.
   b. It will tell you the price the landlord thinks you should pay for it.
   c. It will give estimates of the service charges or improvement costs you will have to pay during the first 5 years if your home is a flat.
   d. It will describe any structural defects that the landlord knows about.
   e. It will contain the terms and conditions of the sale.
   
   
4. Appealing to the District Valuer.
   You may feel that your landlord has priced the house too high, in which case you have the right to obtain an independant valuation from the District Valuer.
   
   
5. Resolving other questions about the Section 125 notice.
   If you want to question anything else you should contact your landlord.
   
   
6. Getting a survey.
   Before you finally decide to buy, you should get an independant survey from a qualified surveyor.
   
   
7. Getting legal advice.
   If you have any worries about the terms of the sale, speak to a solicitor.
   
   
8. Telling your landlord what you want to do next.
   Buy your house outright for the full Right to Buy price, less discount (See more on discounts)
   Or forget about buying and withdraw your application and carry on paying rent.
   
   
9. Enquiring about a mortgage
   Contact us - click here
   
   
10. Completing your purchase.
    We will assist you with every step along the way and if everything goes to plan, they normally complete within 4 months.
    

Click here to see how your purchase can realise equity in excess of £51.647 within 5 years!

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Your home may be repossessed if you do not keep up repayments on your mortgage.
There will be a broker fee on completion of between 0% and 10 % of the loan amount.
For self employed the overall cost for comparison is 7.9% APR. The actual rate will depend on your circumstances. Please ask for a personalised illustration.
For council right to buys the overall cost for comparison is 7.9% APR. The actual rate will depend on your circumstances. Please ask for a personalised illustration.
Buy to Let mortgages are not regulated by the Financial Services Authority.
Overseas properties - changes in the exchange rate may increase the sterling equivalent of your debt.
Commercial property - not regulated by the Financial Services Authority.
Remortgagesandmortgages.com is a trading name of Lake Holdings Limited.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and therefore is primarily targeted at consumers based in the UK.
Lake Holdings Limited, is authorised and regulated by the Financial Services Authority.
Lake Holdings Limited is entered on the FSA register http://www.fsa.gov.uk under reference 463640.