Right to Buy Discounts reduced

One of the lesser remarked upon aspects of the recent Budget announcements by the Government was the drastic reduction in the discounts being offered to those tenants exercising their Right to Buy.

Currently the maximum discount offered is £102,400 (£136,400 in London) and this is being reduced to a much lower level ranging from £38,000 in the South East (although London and some other areas will be capped at £16,000) to £22,000 in the North East. Full details can be found on the government website.

Tenants have until 21st November 2024 to submit a Right to Buy application to benefit from the current discount levels. Applications after this time discounts will be capped at he lower sums.