A tenant's guide- The Right to Buy
Reduction of discount to take account of the cost of work carried out by the council on your home (This is called the 'Cost Floor')
Your discount may be reduced by a special rule called the Cost Floor. This may apply if your home has recently been purchased or built by the council or the council has spent money on repairing or maintaining it. Under the cost floor, the discount you receive must not reduce the price you pay to a level below what has been spent on building, buying, repairing or maintaining it. If the cost of works carried out over the 10 - 15 year period is greater than the market value of your home, you will not receive any discount.
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