Buying a home
Preserved Right to Buy
In March 2003, all homes owned by Walsall Council were sold to WHG Housing Trust or WATMOS Housing Co-operative. If you were a council tenant before the transfer, your right to buy was preserved, which means you may still be eligible for both the preserved Right to Buy Scheme and the Right To Acquire Scheme. You are advised to contact your landlord for advice on which scheme you should apply under.
As a general rule, if you have been a tenant for many years it may be better to apply under the Preserved Right to Buy Scheme as your discount depends on how long you have been a tenant.
If you have been a tenant for only a few years, the Right to Acquire Scheme may be better for you as the discount for this is fixed and could add up to more than your discount under the preserved Right to Buy Scheme.
Right to Acquire
This scheme allows tenants of Housing Associations, Housing Trusts and Housing Co-operatives (known collectively as Registered Social Landlords) to buy their home.
Home Buy Scheme
This scheme helps people buy a home on the open market by allowing a local housing association to provide a loan of 25% of the purchase price. There are certain criteria that make you eligible and for further information, please visit the Mercian Housing Association or telephone 0121 377 8899.
Shared Ownership
If your earnings are not high enough for a mortgage for the full price of a suitable property, you may be able to purchase a home under a shared ownership scheme. These schemes are run by housing associations and enable you to purchase a 'share' in the property and, pay rent on the part you do not own. Some shared ownership schemes exist for housing association tenants. Other schemes are open to any applicant in housing need who is eligible to be accepted onto the housing register.
There are a number of organisations that offer shared ownership. For further information, please visit the The Housing Corporation Website or telephone 01902 795 000.
This page was last updated on 17 November 2009