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    ed as a tenant of the house. In cases of flats or maisonettes the rate of discount ranges from 44% to 70%, but not exceeding ?38,000. The maximum rate of discount is admissible only in a few localities like the posh London and the Southeast areas of England.

    To avail the scheme one must be a council tenant. A council tenant is a secu

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    “We will help every Council Tenant to become Home Owners” With these historic words Margaret Thatcher initiated an equally historic concept of council right to buy scheme. However, the groundwork for this scheme had been laid much before in the 70s under the reigns of the labour government.

    The council right to buy scheme, without being embroiled in any controversy regarding who set off the council right to buy scheme, was indeed momentous. It led many people, who would never have thought (capable would be a more appropriate word to describe their situation) to have their own homes.

    So what is council right to buy scheme? Council right to buy scheme is a scheme under which the council tenants are eligible to buy the house in which they have been living.

    Therefore, what is that which distinguishes the council right to buy scheme from the other schemes? It is different because the customer would have to pay much lesser than what he would have paid had he bought the house in the open market. This is because the customer is entitled to a discount for the number of years that he was staying in the house as a tenant.

    The rate of discount varies with the type of residence and the location of the residence. A person residing in a house will be eligible for a discount of up to 30% with a further discount of 1% for every year lived as a tenant of the house. In cases of flats or maisonettes the rate of discount ranges from 44% to 70%, but not exceeding ?38,000. The maximum rate of discount is admissible only in a few localities like the posh London and the Southeast areas of England.

    To avail the scheme one must be a council tenant. A council tenant is a secur

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    eing embroiled in any controversy regarding who set off the council right to buy scheme, was indeed momentous. It led many people, who would never have thought (capable would be a more appropriate word to describe their situation) to have their own homes.

    So what is council right to buy scheme? Council right to buy scheme is a scheme under which the council tenants are eligible to buy the house in which they have been living.

    Therefore, what is that which distinguishes the council right to buy scheme from the other schemes? It is different because the customer would have to pay much lesser than what he would have paid had he bought the house in the open market. This is because the customer is entitled to a discount for the number of years that he was staying in the house as a tenant.

    The rate of discount varies with the type of residence and the location of the residence. A person residing in a house will be eligible for a discount of up to 30% with a further discount of 1% for every year lived as a tenant of the house. In cases of flats or maisonettes the rate of discount ranges from 44% to 70%, but not exceeding ?38,000. The maximum rate of discount is admissible only in a few localities like the posh London and the Southeast areas of England.

    To avail the scheme one must be a council tenant. A council tenant is a secu

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    under which the council tenants are eligible to buy the house in which they have been living.

    Therefore, what is that which distinguishes the council right to buy scheme from the other schemes? It is different because the customer would have to pay much lesser than what he would have paid had he bought the house in the open market. This is because the customer is entitled to a discount for the number of years that he was staying in the house as a tenant.

    The rate of discount varies with the type of residence and the location of the residence. A person residing in a house will be eligible for a discount of up to 30% with a further discount of 1% for every year lived as a tenant of the house. In cases of flats or maisonettes the rate of discount ranges from 44% to 70%, but not exceeding ?38,000. The maximum rate of discount is admissible only in a few localities like the posh London and the Southeast areas of England.

    To avail the scheme one must be a council tenant. A council tenant is a secu

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    his is because the customer is entitled to a discount for the number of years that he was staying in the house as a tenant.

    The rate of discount varies with the type of residence and the location of the residence. A person residing in a house will be eligible for a discount of up to 30% with a further discount of 1% for every year lived as a tenant of the house. In cases of flats or maisonettes the rate of discount ranges from 44% to 70%, but not exceeding ?38,000. The maximum rate of discount is admissible only in a few localities like the posh London and the Southeast areas of England.

    To avail the scheme one must be a council tenant. A council tenant is a secu

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    ed as a tenant of the house. In cases of flats or maisonettes the rate of discount ranges from 44% to 70%, but not exceeding ?38,000. The maximum rate of discount is admissible only in a few localities like the posh London and the Southeast areas of England.

    To avail the scheme one must be a council tenant. A council tenant is a secured tenant who has been living since 5 years or more (the limit has been changed from 2 years with effect from 18th January 2005) in any of the following:

    • District council

    • London borough council

    • Non-charitable housing association or other registered social landlord

    • Housing action trust.

    • County council or another similar body

    Numerous lenders who have sensed the importance of the scheme offer mortgages especially designed to facilitate such purchases. These mortgages are called council right to buy mortgage. A council right to buy mortgage offers to pay the price of the house. This will be an added attraction to the tenants to go for the scheme. The council tenants can pay off to the council from whom the house has been purchased, and then pay to the mortgage provider in easy and affordable installments. In fact, the monthly installment, which the tenant will have to pay, is lesser than the rent he had been paying. Moreover, while the rent is a sunk cost, the monthly installments facilitate you to have your own home.

    Getting a council right to buy mortgage is not that easy. One must start the search process right from the day when they get the offer. The approval process normally takes around 3 months. To start the search late would mean getting the mortgage late. This could mean losing on the

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