Right to Buy Conveyancing
We are solicitors who specialise in Right to Buy conveyancing. We act for Right to Buy (RTB) clients nationwide. Right to Buy allows you to buy a council property from the Local Authority or Housing Association which owns the property. The property is bought at a discount.
The process is relatively straight forward. If we act for you we do the following:
- You instruct us and we write to the Housing Authority for the appropriate documents.
- If you are having a mortgage you will need searches. Lenders always require local and drainage searches. In Nottingham and other former mining areas they will require a mining search. Other searches can be made if you wish. (Full details are on our website under the searches tab.)
- We go through the Title documents received and we send you the plans of the property. We have to check that the property has sufficient rights, for instance, to the nearest public road. We also send you a Report on the title.
- We advise you on all issues. If you are able to come into the office we shall have an interview. Otherwise at some point we shall have a telephone conference.
- When all the following are ready we can complete:
- We have a mortgage offer,
- We have satisfactory replies to searches,
- The housing Authority have dealt with our enquires.
- The Housing Authority always completes on a Monday.
- Although RTB conveyancing is fairly straight forward, there are certain things that you need to be aware of.
- Repayment of Discount – You buy under a discount and all or part this has to be repaid if you sell within 5 years of buying. This is on a sliding scale, essentially 20% per year.
- Right to Buy back within 10 years – If you sell within 10 years of purchase you have to offer to sell it to your former Landlord (the Housing Authority) or another social Landlord. This is known as the right of pre-emption. If bought back it must be at the then market value. If there is no agreement to price the district valuer will value the property. At the present time (January 2016) it is rare for the Housing Authority to exercise this right.
This does mean that you must contact the Housing Authority if you are selling within ten years of buying the property.
- Service and repair changes (if a lease) – In most cases if you are buying a Local Authority/ Housing Association flat (a lease) then you will have to pay service charges. The Local Authority/Housing Association will normally insure the flat (building insurance only) under a Block Policy and you pay your part of the insurance. There will generally be charges for repair and maintenance of the block of which the flat is part of. Normally (not always) you will receive a full list of projected expenses and an estimate for 5 years. If you do not receive these you should ask for that information.WARNING. Sometimes repair charges on blocks of flats bought under Right to Buy are very high. Not only will this involve you in a lot of expense, but it could affect your ability to sell the property.
- Solar panels (only in a minority of cases of properties) – As a result of the relatively generous subsidiaries paid towards solar panels some Housing Authorities placed solar panels on the rooves of their houses (flats are generally not affected.) The Housing Authority will wish to retain control of the panels. They will require you to lease (let) the solar panels back to them. The letting will be over a considerable number of years (normally 20 years.) The home owner has the benefit of free electricity from the panels. The Housing Authority receives the Feed in Tariff (FIT) payment received for electricity supplied to the grid.WARNING: The drawback, in our view is that the house has the panels for 20 years. They may/will become out of date. It may be difficult to replace with new and better forms of electricity generation. You do receive free electricity but that can be quite limited. It is possible that these leases may affect saleability.
How our Conveyancing Team can help you
We offer guaranteed fixed fees this means:
- No extra charge for dealing with your mortgage lender
- An unmarried partner has no automatic entitlement
- No extra charge for dealing with SDLT (Stamp Duty) on completion
- No extra charge for quick completions
- All letters, faxes, emails and telephone calls are included within our price
Fraud Warning: All clients need to be aware that you must only use the bank account that we will give you at the outset for sending money to us. Please at all times check our bank details carefully because false details can be sent by fraudsters. You also need to be aware of that there are cases where sellers are being impersonated.
“We are members of the Law Society Quality Conveyancing Scheme”
“I started using Campion & Co Solicitors for conveyancing approximately 12 years ago. They have acted for me not only on a personal basis but also they handle my extensive property portfolio. Their efficiency, speed & competitive rates mean that I would not ever consider another solicitor and I recommend them to all my friends and clients.”
“We are a small family company specialising in redeveloping property. We have used Campions for some 20 transactions over the last 3 years, and have always experienced an excellent level of attention. Each transaction is treated individually, and at the speed it requires. Campions give an excellent service, and at internet prices.”
“I have been acquiring properties over the past 3 years and selected Campions for my first purchase. The service then is as good as it is now……………exceptional, which is the reason why I would not contemplate employing the services of another solicitor as I continue to expand my portfolio. The professionalism and the attention to detail by the conveyancing team are unquestionable and have no hesitation in recommending them, which I have done to several of my friends who are also looking to build a property portfolio.”
In our offices we have staff that can speak Punjabi, Urdu and Hindi.
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हम हिंदी बोल सकता है
Should your sale or purchase fall through without having taken the No Move/No Fee option we will charge a fee as is reasonable for the amount of work done by that stage.
- First Time Buyer
- Cash Buyer
- Buy to let Landlord
- Previous client (where we acted for over the last 3 years)
If you qualify for this discount, simply deduct this amount from your total online quote and advise us of your circumstances on instruction.
Terms and Conditions
Only one deduction per transaction (e.g if both cash buyer and buy to let landlord we deduct £24.00).