Repurchase of properties
On a limited basis the council will repurchase certain properties that were originally sold
under the
Right to Buy
Scheme:
Regeneration schemes
Regeneration schemes are necessary in order to improve the quality of individual homes and of
neighbourhoods as a whole. Certain schemes involve the demolition of existing buildings and the
construction of new developments in their place.
If you are a council leaseholder and live in a building that is earmarked for demolition, the
council will need to repurchase your property. Where this becomes necessary the council has
developed and will seek to repurchase your property under the Buy Back Scheme.
Cases of hardship
If you are in extreme financial difficulty, find that you are unable to maintain the costs of
home ownership and would like to become a Council tenant again, the Council may consider
repurchasing your property. This option is only available to leaseholders who purchased their
property directly from the Council under the Right to Buy Scheme and is subject to the Council
having the available funding for the repurchase. Properties bought back under this option are
bought back at the original Right to Buy price and not at market value.
Right to Buy applications received after 17.01.05
On the 18.01.05 new changes to the Right to Buy legislation came into force affecting the
sale of ex-Council properties. Where the Right to Buy application for the purchase of a property
was received by the Council on or after 18.01.05, the Council has right of first refusal for the
repurchase of the property.
This means that for a period of 10 years from the date of sale of a property under the Right to Buy Scheme, any leaseholder wishing to sell their property must first offer to sell it back to the Council (or someone nominated by the Council).
If you fall into one of the above groups, please contact the Buy Back Officer on 020 8825 9506 for more information.
Other circumstances
If you do not fall into any of the above categories, the Council may still be able
to purchase your property indirectly. The Council works together with a partner company called
Safehaven that purchases properties at market value, for and on behalf of the Council. This scheme
is particularly helpful for owners that have been unable to sell their property on the open market.
If you are interested in this scheme or for further details, please contact Josh Noah on 020 7355
6126.
