Right to Acquire
Purchasing your Havebury home through Right to Acquire
Tenants who transferred from St Edmundsbury Borough Council and all new tenants may have the Right to Acquire. This is a similar scheme to the Right to Buy, allowing tenants to purchase their homes. However, it offers a fixed sum discount and does not apply to homes in designated rural areas with a population of 3,000 or less.
The Right to Acquire is also limited to properties transferred from a local authority or built or purchased since 1 April 1997 using public funds.
Are you living in a flat?
If you live in a flat and you are thinking of purchasing it, it is important to consider that you will be buying a lease for your flat. This means you will still be liable for annual service charges payable to Havebury plus additional costs when Havebury carries out major repairs or improvements to the building or communal/shared areas.
Whilst major works are not likely to happen that often, these costs will be expensive and you could end up with a very high bill to pay once the work is done, which could amount to thousands. You will be liable for your own repairs and maintenance inside your flat.
Please read the Communities & Local Government booklet which provides more details about purchasing a lease.