Right to buy or acquire
Bernicia recognises the importance of helping tenants to make the right choices relating to exercising their Right to Buy (RTB) or Right to Acquire (RTA). Here's a guide if you're looking to buy or acquire your home.
The Right to Buy (RTB) scheme enables tenants who hold Secure or Assured (with Preserved RTB only) tenancies to purchase their home at a discount.
The allowable discount is determined by the number of years they have held a public sector tenancy, subject to a maximum discount cap.
The Right to Acquire (RTA) scheme applies to tenants who hold an Assured tenancy of a property which was built or bought by a Housing Association after 1 April 1997 (and funded through a social housing grant provided by the Housing Corporation or Local
Council). Or alternatively transferred from a Local Council to a Housing Association after 1 April 1997. The discount for the North East of England is currently set at £9,000.
Qualifying tenants can claim the RTB or RTA if they have been a public sector tenant for a minimum of three years, not necessarily three consecutive years. Public sector tenants include those who have lived in properties provided by a Local Authority, Housing
Association, the armed services or a public body like an NHS Trust.
This has come at a really good time just when we needed it. The house is perfect with two bedrooms – we wouldn’t have been able to afford it without the shared ownership scheme.
This has come at a really good time just when we needed it. The house is perfect with two bedrooms – we wouldn’t have been able to afford it without the shared ownership scheme.