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A tenant's guide - The Right to Buy

Important things to consider before deciding to buy your home

Buying your home is probably the biggest financial decision you will ever make. So take time to consider whether it is the right choice for you. Examples of things you should consider include:

  • If you exercise the Right to Buy you will become responsible for all the costs of maintaining your home, including routine repairs, major structural repairs, and improvements to it.
  • If your home is a house you will be responsible for insuring it.
  • If you become a leaseholder by buying your flat, you will have to pay service charges each year including a contribution towards the costs incurred by the council in managing leasehold properties, buildings insurance arranged by the council and day-to-day repairs carried out in and around the block. You will also be liable to pay a contribution towards the costs of major repairs and refurbishment of the block of which the property forms a part.
  • As a tenant, you may be able to claim housing benefit to help with your rent. As an owner-occupier, you will not receive any housing benefit to help with your mortgage costs.

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