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 five 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 After Sales Portfolio 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.
Download - A Guide to Right to Acquire.
Preserved Right to Buy
If you have been a Metropolitan tenant for more than five years you may be able to buy your home at a discount through Right to Buy, with the help of a mortgage and/or your savings.
If you sell within five years of buying, you will need to pay back some or all of the discount. The maximum discount is £100,000 in London and £75,000 in the rest of England.
There are different discount levels for houses and flats:
For houses you get a 35% discount if you’ve been a public sector tenant for 5 years. For every extra year you’ve been a public sector tenant, the discount goes up by 1%, up to a maximum of 60% – or £75,000 across England and £100,000 in London boroughs (whichever is lower).
For flats you get a 50% discount if you’ve been a public sector tenant for 5 years. For every extra year you’ve been a public sector tenant, the discount goes up by 2%, up to a maximum of 70% – or £75,000 across England and £100,000 in London boroughs (whichever is lower).
If you are a Metropolitan resident, and you would like to own your home through the Right to Buy, please contact the After Sales Portfolio Team, Monday to Friday, between 9am and 5.30pm on 020 3535 2700 to find out if you are eligible.
Visit: https://www.gov.uk/right-to-buy-buying-your-council-home for more information.
Who can buy?
Not all Councils or Housing Associations offer this option. To find out if yours does and whether you are eligible, please contact your housing provider. As a rule, residents who are facing legal action for anti-social behaviour or breaches of their tenancy agreement cannot take part. Usually, you will need to be:
- A ‘secure’ or ‘assured’ council or housing association tenant (find out what tenancy you’ve got by looking at your tenancy agreement)
- Resident of a landlord who is taking part in the scheme
- Live in a qualifying property (some types of homes aren’t covered by the scheme)
- You’ve been a social tenant for at least five years (these don’t have to be consecutive years).