Right of first refusal

If you applied to buy your home on or after 18th January 2005 and you wish to sell within the first ten years, you will be required to offer it to either your former landlord or to another social landlord in your area at full market value.  Full details are set out in the Government booklet – ‘Your Right to Buy your home’ –  you can download this at http://www.communities.gov.uk/publications/housing/yourright.

Selling your home

You can sell your home whenever you like, but you may have to repay some or all the discount you received.  The amount you will have to repay depends on when you bought it and how much time has passed since you bought it. 

Discounts you must repay upon resale of your home - applications processed before 18th January 2005

If your application was completed prior to 18th January 2005 and you sell within three years of purchase you will normally have to repay some or all of the discount you received. Full details are set out in the Government booklet – ‘Your Right to Buy your home’ –  you can download this at http://www.communities.gov.uk/publications/housing/yourright.

During the fourth year and onwards you can sell the property without having to repay any of the discount.

Discounts you must repay upon resale of your home - applications processed after 18th January 2005

If you applied after 18th January 2005 and you sell within the first five years of buying your home, you will normally have to repay some or all of the discount you received.

In addition, the amount of discount to be repaid if you sell within five years of purchasing will be a percentage of the resale value of the property disregarding the value of any improvements.

For example:

• Your home was valued at £100,000 at the time you bought if from the Council.  You received a discount of £20,000, meaning that your discount was 20%.
• You want to sell your home in the second year of purchase.  Your home is now valued at £150,000.  You would have to repay £150,000 x 20% discount x 4/5 (80%) i.e. £24,000.
• During the 6th year and onwards you can sell the property without having to repay any of the discount.
  

Full details are set out in the Government booklet – ‘Your Right to Buy your home’ –  you can download this at http://www.communities.gov.uk/publications/housing/yourright.

How to get a copy of the deeds for your property once you have bought your Council home

If you need a copy of the deeds and you still have a mortgage on your property please contact your mortgage lender.  If you do not have a mortgage please contact the solicitor who acted on your behalf for the purchase of your home.

If your lender/solicitor is unable to do this you can contact the Land Registry office who will also hold a copy.  Land Registry can be contacted on:

• Land Registry Durham (Boldon) office – 0191 301 2345
• Land Registry Durham (Southfield) office – 0191 301 3500.

If you are unable to get copies through the above options the Council’s Legal Services Division will have a duplicate copy.  They will charge you an administrative fee of £20 or £30.  The Legal Services section can be contacted on 0191 232 8520 extension 25165.