If you are a secure tenant of the City
of London you probably have the legal right to buy your home.
The right to buy means that you can buy your home usually for
less than on the open market. This is because you will get a
discount calculated depending on the amount of time you have
been a secure tenant. The current maximum discount in cash
terms for the South East region is £16,000.
The cost of buying your home
Having bought your home, you would normally then be required to
contribute to the upkeep of your estate and maintenance of your
home by way of a service charge. These can sometimes be expensive
but you would usually be given notice of their estimated cost
before you decide to buy your home.
Advice on owning your own home
We have produced a leaflet which contains useful advice for home
owners including information on service charges and communal
repairs.
Further assistance
For more information on buying your home and its financial
consequences tel 020 7332 1199 or 020 7332 3703 or
email.