Eligibility for Right to Part Buy
Right to Part Buy is a voluntary sales scheme offered by Wandsworth Council to eligible tenants as an affordable alternative to the Right to Buy (RTB).
This unique scheme will enable eligible council tenants who qualify for the Right to Buy (but are unable to afford to purchase their council home outright) to buy a share of their property.
It will enable tenants who cannot afford the full purchase price to acquire a minimum share of 25 per cent whilst paying a low rent on the remaining share. Tenants would be sold a shared ownership lease of 25 to 100 per cent of their property whilst benefiting from a proportionate discount available under RTB.
To be eligible for the scheme you must:
- Be a secure tenant
- Have at least three years tenancy
- Not have received Housing Benefit 12 months prior to the application
- Must pass an affordability test
Tenants will be able to purchase a minimum initial share of 25% or 50% and in the future can buy additional shares and possibly own their home outright.
This scheme offers an alternative option to the Right to Buy and is an affordable way to take the first steps onto the property ladder.
The new scheme would only apply to new RTB applications or where the original offer had been served on or after the launch date (9 January 2017).
Eligibility also includes having no legal issues with debt or any outstanding possession orders. Some properties are also exempt from RTPB (Voluntary Scheme) but eligibility will be confirmed as part of the application process.
Consumer Price Index increase
As of 6 April 2019 Wandsworth tenants applying for the Right to Buy scheme will benefit from an increase to the maximum discount in line with the percentage change in the CPI (Consumer Price Index) to £110,500.
Find out how to apply to part buy.