Buying back your property

Most people who bought their property under the right-to-buy scheme are very satisfied with their decision. However, some find it difficult to manage being a homeowner and would like to be a tenant again. We operate a buy-back scheme and this section tells you about this scheme.

Will you buy the property back from me?

We may buy the property back, but we do not have to.

What is the buy-back scheme?

The buy-back scheme is where we buy back the property you bought under the right-to-buy scheme. If we buy back your property, you may be able to stay in it as a rent-paying tenant or you may have to move to a smaller property if there is too much space in your home.

Is the buy-back scheme suitable for me?

If you bought your property under the right-to-buy scheme and have since found that you cannot afford the cost of owning it, you may qualify for the buy-back scheme.

We can choose to buy back your property if:

• You are the person who bought your property from us under the right-to-buy scheme.
• The property is your only home; and
• You have not increased your mortgage since you first bought your property, except to pay us service charges or bills for work rechargeable under section 20. Even if you qualify for the buy-back scheme, we may not be able to buy your property. It depends on whether we have used up the money that we set aside for the scheme.

How much would you pay for my home?

We would pay the same amount you paid when you bought your property from us.