Can I Afford It: What discount could I get?
The Right to Buy scheme helps eligible council and housing association tenants in England to buy their home with a current discount of up to £136,400 (£102,400 outside London). Following the government’s review of Right to Buy discounts, maximum cash discounts will be reduced to £16,000 – £38,000 from 21 November 2024. The level of the maximum discount available will depend on where you live, as outlined in the table below.
| Region | Maximum Discount |
| North East | £22,000 |
| North West | £26,000 |
| Yorkshire and the Humber | £24,000 |
| East Midlands | £24,000 |
| West Midlands | £26,000 |
| Eastern | £34,000
Except the district of Watford (£16,000) |
| South East | £38,000
Except the areas of Reading Borough Council and West Berkshire Council, the districts of Hart, Oxford and Vale of the White Horse and the boroughs of Tonbridge and Malling, Epsom and Ewell, and Reigate and Banstead (£16,000) |
| South West | £30,000 |
| London | £16,000
Except the London Boroughs of Barking and Dagenham and Havering (£38,000) |
Discount levels for houses and flats are worked out differently, and start at three years of eligible tenancy, increasing to a maximum of 70% of the property value depending how long you’ve been a tenant.
House
You get a 35% discount if you’ve been a public sector tenant for three years. The discount remains at 35% until you have 5 years public sector tenancy.
After year 5, the discount goes up by 1% for every extra year you’ve been a public sector tenant, up to a maximum of 70% – or £102,400 across England and £136,400 in London boroughs, whichever is lower (as noted above, maximum cash discounts will be reduced to £16,000 – £38,000 from 21 November 2024.)
Flat
You get a 50% discount if you’ve been a public sector tenant for three years. The discount remains at 50% until you have 5 years public sector tenancy.
After year 5, the discount goes up by 2% for every extra year you’ve been a public sector tenant, up to a maximum of 70% – or £102,400 across England and £136,400 in London boroughs, whichever is lower (as noted above, maximum cash discounts will be reduced to £16,000 – £38,000 from 21 November 2024.)
| Buying a House Example 1 |
|
|---|---|
| Current house value | £120,000 |
| Years as a tenant | 10 years |
| Eligible discount (35%+1% for each year over 5 years) |
40% |
| Discount value | £48,000 |
| Price you pay for house (£120,000 less £48,000) |
£72,000 |
| Buying a House Example 2 (London) |
|
|---|---|
| Current house value | £430,000 |
| Years as a tenant | 20 years |
| Eligible discount (35%+1% for each year over 5 years) |
50% |
| Discount value | £136,400 |
| Price you pay for house (£430,000 less £136,400) |
£293,600 |
| Buying a Flat Example 1 |
|
|---|---|
| Current flat value | £100,000 |
| Years as a tenant | 10 years |
| Eligible discount (50%+2% for each year over 5 years) |
60% |
| Discount value | £60,000 |
| Price you pay for house (£100,000 less £60,000) |
£40,000 |
| Buying a Flat Example 2 (London) |
|
|---|---|
| Current flat value | £270,000 |
| Years as a tenant | 10 years |
| Eligible discount (50%+2% for each year over 5 years) |
60% |
| Discount value | £136,400 |
| Price you pay for house (£270,000 less £136,400) |
£133,600 |
Click here for a handy Right to Buy Calculator. It’ll help you work out the discount you could receive.
You could also check out local estate agents and property websites to get a rough idea of what your property could be worth.
Remember, buying is a big decision, and you should always get financial and legal advice before deciding whether to make your home your own. Take a look at our Can I afford it? page which gives an overview of other costs you will need to consider.