Right to Buy Valuation? Get your council home in London valued.
Under the current Right to Buy Scheme, it’s possible to secure a discount worth up to 70% of your council home’s market value, but can you feel confident in the accuracy of your landlord’s valuation? If you want your home’s value independently verified, you need to obtain a RICS Right to Buy valuation.
At Harding Chartered Surveyors, our RICS registered valuers operate completely independently of lenders, meaning you can rest assured we prioritise your best interests. Contact us today to arrange a market valuation so that you can decide if your landlord’s terms are fair.
An introduction to the government’s right to buy scheme
The Right to Buy scheme allows tenants to purchase their council or housing association home at a significant discount. If you’ve lived in your property for between three and five years, you can get a discount totaling:
- 35% of your house’s value
- 50% of your flat’s value
The discount increases by 1% for each additional year of your tenancy but can’t exceed £104,900 for London properties.
What is a right to buy valuation?
When you apply to buy your London home from a council or housing association, your landlord will either reject your application or provide an offer.
Your landlord’s Right to Buy offer details:
- The property’s market value
- Your discount and the calculation method
- An overview of the property
- A cost estimate of service charges
- Urgent defects
If you want to check the accuracy of your landlord’s valuation, you can contact our RICS registered valuers for an independent Right to Buy valuation. Remember that a valuation only offers a brief overview of a property’s condition. Read more about building surveys if you need a cost estimate for any required repairs.
Why should I get a right to buy valuation for a council home in London?
Obtaining a Right to Buy valuation from a RICS registered valuer allows to you:
- Decide if the Asking Price is Fair
You won’t know whether your landlord’s market valuation is accurate until you’ve obtained a report from an independent RICS registered valuer.
- Challenge the Terms of Your Offer
With an impartial Right to Buy valuation, you can dispute unfair claims or offer terms.
- Appeal to the District Valuer
You can present your RICS market valuation as evidence to the district valuer if you wish to appeal your landlord’s offer.