Right to Acquire explained
Right to Acquire is a similar scheme to Right to Buy but aimed at housing association tenants. This article explains how it works, who is eligible, and how the discounts compare.
In this guide
What is Right to Acquire?
Right to Acquire allows eligible housing association tenants in England to buy their home at a discount. The scheme works in a similar way to Right to Buy but the discounts are generally smaller, ranging from £9,000 to £16,000 depending on the location of the property.
The discount is set by the government and varies by region rather than being based on your length of tenancy. This means a tenant of three years receives the same discount as a tenant of twenty years, unlike Right to Buy where longer tenancy increases the percentage.
Who is eligible?
To qualify for Right to Acquire you must have been a public sector tenant for at least three years and be a current assured tenant of a housing association that was registered after January 1997 or that received public funding to build or renovate the property.
Not all housing association properties qualify. The property must have been built or acquired with public funding, and some rural properties with populations below 3,000 are excluded. Your housing association can confirm whether your property is eligible.
How does the mortgage work?
The mortgage process for Right to Acquire is very similar to Right to Buy. The discount acts as your deposit, and lenders assess affordability based on the discounted purchase price. Some lenders will lend up to 100% of the discounted price.
Because the discounts are smaller than Right to Buy, you may need a larger mortgage relative to the property value. Your adviser can help you find lenders who offer competitive products for Right to Acquire purchases and calculate your likely monthly payments.
Related guides
More guides in our right to buy mortgage hub.
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