Preserved Right To Buy Information

If you were a secure tenant of your property on 30th October 2006 (One Vision Housing launch day) you will most likely qualify for the Preserved Right to Buy.

The Preserved Right to Buy Scheme allows secure tenants of Sefton Council on 30th October 2006, now One Vision Housing, to enjoy the same discount and privileges as the Right to Buy Scheme which operated under Sefton Metropolitan Borough Council. It also allows those tenants to have one transfer to another property managed by One Vision Housing, and still retain the same rights.

What Does It Mean To Be a Homeowner?

When you own your own home you need to make sure that you can meet the financial responsibilities that go with that.

Mortgage payments – if your mortgage repayments are variable and not fixed, will you still be able to afford the payments if the interest rate goes up?

Mortgage payment protection – you may wish to consider this type of insurance which may provide cover if you were to lose your job or become too unwell to work.

Life insurance – you will usually need to have life insurance, if you have a mortgage, to cover your mortgage repayment in the event that you pass away.

Buildings insurance – if you have a mortgage then you will also need to take out buildings insurance.

Repair and Maintenance costs – unlike when you are a tenant, you will need to carry out your own repairs and maintenance of the property, so you need to think about how you would manage if your boiler suddenly broke in winter and you had no heating and hot water. Some insurance companies offer cover to help in situations like this.

These additional costs need to be factored in to your normal monthly outgoings like utility bills, council tax, and housekeeping costs.

Consider all of these carefully to ensure that you can afford to make all of the payments that you would need to make.

Further Information

The DCLG (Department of Communities & Local Government) website contains the most comprehensive information on all home ownership schemes operated by Local authorities and Residential Social Landlords.

There are a number of websites which you can use to give you an idea of how much properties are being sold for in your area, an example of such a website is upmystreet .This site can give you an early indication of what your property may be valued at but please note the valuation provided by our independent valuation office may differ, you are allowed to challenge the valuation provided via the District Valuation Office whose ruling will be final.

You can download an application form to buy your property via the Direct Government’s website.