If you have the right to buy your council/HA house/flat...

[Linnet]

How do they work out how much discount you get?

Someone once told me, years ago, that you get something like a flat rate X% discount plus Y% discount for every year you've been a tenant up to a certain amount but now I can't remember what they said.

Does anybody know? was chatting with a friend about this today and now I'm curious as we couldn't come up with an answer.

I think its up to £60,000 discount now..

i don't know much about it, but i think there are bvarious things that add to the discount,

my dad got a bigger discount because he';d been in the army

I've got the paper work somewhere. I'll go and dig it out. Some councils have a cap on the amount of discount you can have, because of the housing shortage this policy brought about - mine caps it at about £12,500 iirc, which in London is pretty worthless.

I was wrong, its up to 32,000 for in the south east

see \link{http://www.odpm.gov.uk/index.asp?id=1151291#P95_12183\here}

£38,000 sorry its late

And I (loosely) quote......

The Right toBuy discount rate depends on the length of time you have spant as public sector tenants, or in armed forces accomodation, up to a maximum discount limit for thearea in which you live. There are six regional limits:

£38k london and SE
£34k Eastern Region
£30k SW
£26k NW or W.Midlands
£24k Wales, E. Midlands, Yorkshire and the Humber
£22k NE

House - discount rate starts (after 2 years as tenant) at 32% and goes up by 1% a year to limit of 60%

Flat - starts at 44% goes up by 2% a year to max of 70%

BUT cannot get more than max. limit of your area.

HTH

On that link it has

£16,000 in London (unless your home is in Barking and Dagenham or Havering, where the maximum discount is £38,000).

I know the discount was reduced. When my parents bought their council house, they got a 70% discount

It's £16,000 where I am (London)

I can't buy my house as its HA, not that I could afford it anyway even with a £16,000 discount!

thanks very much I knew there was an immediate amount and then another amount each year but I just couldn't remember what it was. Will tell my friend tomorrow that I've found out.

I could buy my HA house if I wanted. Its a different scheme, voluntary purchase scheme, but the discount isnt as good as council houses. Its something like 9-16000.