Buying your home

The right to buy

For tenants who transferred from Manchester City Council in October 2006.

Your tenancy agreement gives you the legal right to buy your home if:

1. You have been a tenant - with the City Council, Parkway Green or another public sector landlord (like another council or housing association) - or lived in armed forces accommodation for a specific time. If you become a tenant before 18th January 2005 the specific time is two years. If you became a tenant on or after that date, the specific time is five years.

2. You do not you live in specialist housing - for elderly or disabled people for example.

If you have the right to buy

You can buy your home at a discount price below its market value - the longer you have been a tenant, the bigger the discount. If you live in a house you will get between 32 percent and 60 percent off the market value. The discount if you live in a flat is between 44 percent and 70 percent.

But the maximum discount you can get is £26,000.

If you buy your home, you can sell it in the future - but if you do this within a specific time you will have to pay back some or all the discount. If you applied to buy your home before 18th January 2005 the specific time is three years. If you applied to buy your home on or after that date, the specific time is five years.

Think before you buy!

When you are looking at the difference between renting and buying, don't just check the weekly payments. Remember your rent includes things like buildings insurance and a free repairs service. If you buy your home you would have to pay for these things yourself.

If you are thinking of buying, beware of 'Right to Buy' sales people who may try to get you to sign deals on the doorstep. Get independent financial advice from a bank or building society. We can give you free advice. Contact us if you're interested in buying. We'll send you an information pack and an application form.