Discount

Please note the Voluntary Right to Buy Midlands Pilot is now CLOSED to new applicants.


The amount of discount you will receive on your property will be determined by a calculation set by the Government. The discount is worked out in an identical way to the statutory Right to Buy for council tenants.  You can find out roughly how much discount you may get by using the discount calculator on the Right to Buy website: https://righttobuy.gov.uk/right-to-buy-calculator/

  • For each complete year of confirmed tenancy, you are entitled to receive a discount based on a percentage of the open market value of the property. The total periods of qualifying tenancy are added together (years, months, days) and the discount is calculated on the total years. The monetary value of this percentage is deducted from the market valuation of the property.
  • For freehold sales (where you will own the property outright, including the land it’s built on) a tenant is awarded a 35% discount for the first five years and a further 1% for each additional complete year of confirmed tenancy, up to a maximum of a 70% discount – or £80,900, whichever is lower.
  • For leasehold sales (where you will own the property and its land for the length of your lease agreement) a tenant is awarded a 50% discount for the first five years and a further 2% for each additional complete year of confirmed tenancy, up to a maximum of 70% – or £80,900, whichever is lower.
  • The maximum discount will be reviewed annually and increased if appropriate in line with the Consumer Price Index level of inflation (CPI).
  • If you have previously received funding under Right to Buy, Preserved Right to Buy or Right to Acquire, the discount will be reduced by that amount.

Example:

Mrs Stevens has been a public sector and/or housing association tenant for 10 years. Her 2 bedroom house has been valued at £150,000.

Current house value: £150,000

Years as a tenant: 10 years

Eligible discount: (35% + 1% for each year over 5 years) = 40%

Discount value: £60,000

Amount Mrs Stevens will pay for house (£150,000 - £60,000) = £90,000

Get your estimated discount

VRTB News 2 - 17/09/2018

It is important to note that your URN will only last for four weeks from date of receipt. After this it will no longer work. You therefore need to make sure you contact us straight away once you have been allocated a URN by the Government in order to start the process of buying your home. Please see our Apply for VRTB page if you have already been allocated a Unique Reference Number by the Government. 

VRTB News 1 - 17/9/18

The Government gateway (website) for registering your interest into the ballot to receive a unique reference number (URN) was open from 16 August to midnight on 16 September and is therefore now closed. The Government will decide when/if to re-open the ballot entry on their online gateway.  You can keep up to date with the latest developments by looking on the Government’s Voluntary Right to Buy website