The Exeter Conveyancing team at Fridaysmove have witnessed an increasing number of enquires from tenants in Exeter concerning their right to buy their property off the Council.
Exeter City Council tenants have the Right to Buy their flat or house if they have been a secure tenant of the City Council, or another public sector landlord (like another council or housing association; or lived in armed forces accommodation) continuously for two years or more prior to 18 January 2005.
Should you have become a new Council tenant on or after 18th January 2005 will not qualify for the Right to Buy until you have had at least 5 Years public sector tenancy.
You cannot buy the property if:
- You live in sheltered housing for the elderly, the disabled or mentally handicapped.
- You live in a property that is particularly suitable for the elderly and was let to be lived in by someone aged 60 or more.
- You work for Exeter City Council and your home is part of your conditions of service (this only applies in some cases).
- You are an introductory tenant
You can purchase the property with anyone in your family who is a joint tenant. Up to 3 members of your family who are not joint tenants if the property is their main home are entitled to purchase with you. Anyone (except your wife or husband ) who is purchasing the property must have lived with you for a year before you apply. Your Exeter conveyancing solicitor will need to act for all named purchasers.
The scheme gives tenants a discount on the market value of their homes. The longer you have been a tenant, the more discount you get, up to a maximum limit of £30, 000.
When you make a Right to Buy application any outstanding repairs or further request for repairs to your home will be suspended. This is to ensure that the valuation remains consistent throughout the process of the Right to buy. Only urgent repairs will be carried out.
Tenants of houses and bungalows can purchase their property freehold whereas those in flats can purchase a 125 year lease. If you want to buy your flat or maisonette, you will be buying the leasehold from the Council. As a leaseholder you have to pay Exeter City Council a nominal rent (known as a ground rent).
The Council will also make an annual service charge for:
- communal repairs
- communal maintenance
- cleaning of communal areas and the estate
- ground rent
- communal lighting charge
- management charge
- heating charge (if property is served by a communal boiler)
Exeter City Council maintains an on-going relationship with leaseholders, looking after communal areas, structural repairs and improvements to flats.
Remember if you decide to purchase your house or flat you will have to pay for the following fees:
- Conveyancing Solicitors Fees for Buying a House
- land search fees
- land registry fees
- stamp duty
- structural survey fee ( should you wish to have a survey )
What can you expect Exeter City Council to do as Landlord ?
- Deal with all enquiries and applications within the time limits set by the government
- Re-invest the money raised from sales to benefit the residents of Exeter
- Charge and collect a service charge to leaseholders for regular maintenance work
- Collect from each leaseholder a contribution towards improvements carried out in their block of flats
- Give estimates for work to leaseholders
The Fridaysmove Exeter conveyancing team would be delighted to assist in your Right to Buy Conveyancing in Exeter. The team can help regardless whether you require freehold or (as is more likely) leasehold conveyancing in Exeter