Online services may be unavailable on occasions during Saturday 26th May 2012 and Sunday 27th May 2012 due to essential maintenance. We apologize for any inconvenience caused and we'll be aiming to minimize any distruption.

Costs of buying

If you exercise the Right to Buy you will become responsible for all the costs of maintaining your home, including major structural repairs, routine repairs, and improvements. If you are buying a flat or maisonette, consider the service charges you will have to pay as a leaseholder; these can be substantial (See page 12 in the booklet "PDF file Your Right to Buy Your Home (189KB - 18 April 2012 - PDF Help)"). As an owner-occupier, you will not receive any housing benefit to help with your mortgage costs. You may be entitled to income support to assist with housing costs, but this is not usually payable for nine months after you first claim it.

There will be initial extra costs that you will have to budget for when buying your home.

You can use the Do Your Sums page to work out the costs, advantages and disadvantages of buying your home.  You are also advised to work out the regular payments that you will have to make as a home owner.  

These pages are an introductory guide; anyone intending to buy a home should get full independent legal advice.

Disclaimer:
The information given on these pages is believed to be correct as at April 2012, but any person contemplating buying their home should check with the Council and their Conveyancer that the fees and legislation have not altered before committing themselves to any course of action. The Council cannot be liable for any errors or omissions contained on these pages arising from changes in the law or in fees after the date on which this information sheet was prepared.

Page last updated on 24 May 2012