Options for Residents
Right to Acquire (RTA)
This option offers tenants of homes in London that have been developed by or transferred to Housing Associations since 1st of April 1997 the opportunity to buy their home with a mortgage and/or savings with a discount of £16,000.
You will need to have been a social tenant for at least three years to qualify and you can't buy your home through the Right to Acquire scheme if:
- You are being made bankrupt
- A court has ordered you to leave your home
- You are a council tenant – you may be able to get discounts on buying your home through the ‘Right to Buy’ scheme.
If you are currently renting a property from Metroplitan and would like to find out if you can buy your rented home through Right to Acquire please contact the Home Ownership -After Sales Team, Monday to Friday, between 9am and 5.30pm on 020 3535 2700. If you are a tenant with another housing association you must contact your landlord directly to find out if you are eligible to buy your home.
A Guide to Right to Acquire.
Right to Buy
Right to Buy allows most council tenants (and those who live in Council homes transferred to housing associations - see 'Preserved Right to Buy' information below) to buy their home at a discount. Use the eligibility checker on the Right to Buy website to find out if you can apply.
You can apply to buy your council home if:
- it’s your only or main home
- it’s self-contained
- you’re a secure tenant
- you’ve had a public sector landlord (eg a council, housing association or NHS trust) for 3 years - it doesn’t have to be 3 ears in a row
You can make a joint application with:
- someone who shares your tenancy
- up to 3 family members who’ve lived with you for the past 12 months (even if they don’t share your tenancy)
If your home used to be owned by the council, but they sold it to another landlord (like a housing association) while you were living in it, you may still have the Right to Buy. This is called ‘Preserved Right to Buy'. Ask us if this applies to you.
Plans to extend Right to Buy to Metropolitan residents
Right to Buy will be available to more housing association tenants with the passing of the Housing and Planning Bill through Parliament, which gained Royal Assent in May 2016. We expected to extend Right to Buy to Metropolitan residents from Autumn 2016 once government had set out the terms in more detail, however this timeline has been delayed as the Government deals the impacts of the EU referendum. We expect further announcements in the early part of this year (2017) and a pilot programme to commence in 2017/18.
In the meantime, our trade body, the National Housing Federation, has published a helpful questions and answers document for Housing Association residents interested in the Right to Buy.
If you're already a Metropolitan home owner through Shared Ownership and are considering staircasing, or have another after sales enquiry, visit our 'Guide to Buying' page for further information.
Leaseholders buy the right to live in their property for a fixed number of years. The term of the lease, which can be up to 125 years, starts to decrease every year until it expires. When this happens, ownership of the property returns to us, your landlord, unless you apply to extend the lease.
With the freedom and independence of being a leaseholder, comes additional responsibilities. You normally own and are responsible for everything within the four walls of your property, with the exception of pipes and drains that also serve other properties.
As your landlord, we remain the owner of the overall building and the land it stands on and remain responsible for the maintenance and repair of the structure and exterior of the building.
Further information could be found here.
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