Right to Acquire is a government scheme introduced in 1996 that allows housing association tenants who meet the qualifying criteria to buy the home they currently rent. If eligible, they will benefit from a discount on the market value.

Difference in Right to Buy and Right to Acquire

Whereas the Right to Buy scheme is aimed at council tenants, the Right to Acquire scheme is intended for housing association tenants. If you were a council tenant at the time the property you rent passed to the housing association, then it is the Right to Buy scheme that applies to you.

To qualify for the scheme, you must currently be renting a housing association property and have had a public sector landlord for a minimum of 3 years. As well as housing associations, public sector landlords include: councils, the armed services, NHS trusts, and NHS foundation trusts.

You will not be eligible if you are in the process of being made bankrupt or if you have been ordered to leave your home by a court.

The property must be your only or main residence, and also self-contained. It must have been built or bought by a housing association, or transferred from a local council to a housing association, after 31 March 1997.

Your landlord must be registered with the Homes and Community Agency.

Assuming you, the property and your landlord all meet the necessary criteria, then you can move on to the next step.

If you qualify, then you need to complete an application form and send it to your landlord. If the purchase gets the green light you will be sent a property evaluation and, depending on where you live in the UK, you can get a discount of between £9,000 and £16,000 on the price of the property. (If you have used either the Right to Acquire or Right to Buy schemes previously, your discount might be reduced.)

If you decide to go ahead with the purchase, and you are confident you can afford to buy the property, then your next step is to sort out a mortgage if required.