Buying your home

Buying your home

Deciding to buy your home is one of the biggest financial decisions you will ever make, so it’s important you think things through carefully.

Once you become a homeowner you will be responsible for the costs of buying and maintaining your home and also costs which we would previously have paid. This will include:

Buying your Home

Maintaining your Home

· Solicitor or licensed conveyancer

· Survey costs

· Land Registry fees Mortgage arrangement fees

· Stamp Duty

· Mortgage repayments Mortgage protection insurance

· Life assurance

· Buildings & contents insurance

· Ground rent

· Improvements

· Routine repairs

· Major structural repairs

If ou become a leaseholder, by buying your flat, you will also have to pay service charges each year.

If you are currently claiming Housing Benefit you would also no longer be entitled to claim. You might still be able to receive income support but this is not usually payable for longer than 39 weeks.

Pensioners should also be aware that, once you own your home, its value might affect whether you can get help with the costs of residential care.

If you are considering buying your home and would like some help, advice or further information please call our Commercial Services team on 0151 510 5000 or speak to your housing team in the local area office.

What’s the difference between right to buy and right to acquire?

This depends on whether you were a tenant with Halton Borough Council before transferring to the Trust in December 2005 which you will have an assured protected tenancy agreement.

If you became a tenant after this date you will hold an assured tenancy agreement. An assured protected tenancy agreement qualifies for both statutory purchase schemes which the maximum discount for the RTB is capped at 26k and the RTA capped at 9k respectfully.

If you held your tenancy with the Council (before December 2005) then you have the right to buy (assured protected) if you satisfy the initial qualification period of two years occupation. The right to acquire has also the qualification period of two years tenancy occupation before 18^th January 2005

After 18^th January 2005 you will require 5 years tenancy occupation to exercise both statute rights to purchase through either RTB or RTA home ownership schemes.

The differences in the schemes are as follows:

Difference	Right to Buy	Right to Acquire
Discount	The amount of discount depends on how long you have been a tenant. The longer your tenancy the greater the discount you will receive, up to a maximum limit which varies depending on where you live. This is currently £26,000 in the North West.	The amount of discount you receive is a fixed amount published by the government, regardless of how long you have been a tenant. This is currently £9,000 for the North West.
Application form	Complete and return form RTB1	Complete and return form RTA1
Timescales	Once you have completed form RTB1 we will tell you within 4 weeks, from the date of receiving your form, to tell you if you can buy your home.	Once you have completed form RTA1 we will tell you within 4 weeks, from the date of receiving your form, if you can buy your home.