Council flat purchase, discount available?

[Sghom]

Hi.....

I have had a quick search, but cannot find anything specific on current council flat purchase discounts?

I know It's £24,000 as stated on sheffield homes web site, but according to press reports, in December 2011, George Osbourne uppped this limit to £50,000.

Does this apply to Sheffield? or is it just other area's/councils?

 

I'm thinking of buying my mum's flat for her.

 

TY.

[poppet2]

I was always under the impression the discount was a percentage rather than a set amount. I know this was the case when this policy was first introduced under the Thatcher government in the 80's. It was also dependent on how long you had occupied your council property. A set amount would seem unfair since some people have larger council flats than others. Why not give the housing department a call to clarify the situation.

[Sghom]

http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/HomeBuyingSchemes/DG_186973

 

http://www.telegraph.co.uk/news/politics/8900872/Council-homes-right-to-buy-discount-will-be-doubled.html

 

?? one say's one thing.... t'other say's t'other??

[spider1]

:hihi: Think if you buy flat and council still holds free hold they charge you for services .Decorating passages roof repairs grass cutting etc .So beware its not that simple

[Jeffrey Shaw]

http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/HomeBuyingSchemes/DG_186973

 

http://www.telegraph.co.uk/news/politics/8900872/Council-homes-right-to-buy-discount-will-be-doubled.html

 

one says one thing.... t'other say's t'other?

The 'discount allowed' rules have changed several times under the Housing Act 1980 and successive Acts.

For current position, inc. re 'maximum discount cap' and 'cost floor', see http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/HomeBuyingSchemes/DG_186973

There, it says:

For flats you get a 50 per cent discount if you’ve been a public sector tenant for five years.

This discount increases by 2 per cent for every extra year you’ve been a public sector tenant.

No matter how long you’ve been a tenant, the most you can get off your flat’s price is 70 per cent.

 

The Daily Telegraph article deals only with HMG's plans for yet more future changes (which will have to involve more legislation!)

Edited February 27, 2012 by Jeffrey Shaw