Right to Acquire Information

If you are a tenant of One Vision Housing and your tenancy started after 30th October 2006 you may be eligible to purchase your property under the ‘right to acquire scheme’. You must have had a public sector tenancy for 3 years (if your tenancy began after 2005).

Discount Entitlement & Discount Repayment Criteria

The maximum discount entitlement is based on the area in which you live. Currently in Merseyside it is £9000. Please note there can be no appeal against this amount, regardless of how long you have been a tenant.

Your discount entitlement also depends on how long you have spent as a public sector tenant. This includes time spent with One Vision Housing, other Housing Associations, Armed Forces, Local Authorities and certain other public sector bodies. Your RTA1 (application form) will list all relevant public sector organisations.

Eligible Properties

Not all properties are eligible to be bought and certain types of homes are excluded. This may be because of the type of property that they are, for example, sheltered and specialist accommodation for disabled people may be excluded.

Some properties don’t qualify because of where they are, for example, some rural areas where there is very little social housing.

You can find out more information on eligible properties on the Government’s ‘Right to Acquire’ webpage and you can also download an application form (called an ‘RTA1’) from this website.

Cost Floor Ruling

Your discount may be affected by something called the “cost floor ruling”. This is where the cost of repairs and improvements that we have spent on your home is taken into account when calculating the discount.

You can find more information on the “cost floor rule” on the government’s Right To Buy website.

Freehold & Leasehold Purchases

If you purchase a house under the Right to Acquire Scheme, you will be purchasing the FREEHOLD of the property. This means you will buy the structure of the property and the garden areas around your house and you will be solely responsible for any repairs and maintenance to this area.

If you purchase a flat under the Right to Acquire Scheme, you will be purchasing the LEASEHOLD of the property. This will mean that One Vision Housing will retain an interest in the property and you will be liable for annual service charge payments for the duration of the lease. Please refer to the leaseholder living section of this website for further details.

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 come with being a homeowner.

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, when you own your own home you will need to carry out your own repairs and maintenance of the property. 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.