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Buying your home
We explain how our residents can acquire their home under the 'preserved right to buy' or 'right to acquire' schemes.
If you have been renting your home from us since before 1999, when Worthing Borough Council transferred its housing stock to Worthing Homes, you have a ‘preserved right to buy’ your home. If you have been a tenant since transfer, you may also buy your home under the ‘right to acquire’ guidelines. Here are some further details that may help you decide if buying your home is an option for you.
The ‘right to acquire’ scheme gives public sector tenants who have been renting for at least two years (or five years if you became a public sector tenant after 18 January 2005) the right to buy their property from their landlord at a discount.
Things to consider
Buying your home is a major financial commitment which will involve immediate one-off costs such as stamp duty, legal and survey fees, land registry fees, mortgage fees, and a valuation fee.
After completion, you will also need to make regular payments in respect of the property, such as:
- mortgage repayments (there is a risk of repossession if mortgage payments are not maintained);
- Council tax;
- Buildings and Homes;
- contents insurance;
- utility bills;
- repairs and maintenance.
If you are a leaseholder, you will also be responsible for service charges (there is a risk of legal action if payments are not maintained, which may lead to repossession).
