The Right to Buy department is committed to overcoming the delays that can hamper the progress of a case and our staff are geared towards getting cases to completion as quickly as possible.
We have established strong relationships with a large number of councils and housing associations, allowing us to complete quickly and as effortlessly as possible.
We do not mix Right to Buy work with Residential or Remortgage Conveyancing! Thus we have a dedicated Right to Buy department comprising staff fully trained to deal with all aspects of the transaction. All staff have direct dial telephone numbers and personal e-mail addresses, to ensure quick and instant access at all times.
- How long will the Right to Buy take?
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We complete all cases as quickly as possible. On a Right to Buy matter this is a difficult question to answer – as there is no definitive answer! As all councils work to different timescales our skilled staff will make regular contact with the seller to ensure that all is running smoothly, and where possible will get an approximate idea of the seller's timescale for issuing documents. We would hope however that the whole process (from receipt by the Council of the client's acceptance of their offer notice) should be completed in two to three months.
- When will the client receive their payment for home improvement monies?
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Payment is made to the client as soon as possible after the completion date (often on the same day) once payment has been made to the council, we call them to check that they have received the funds and completed the matter, then the clients' payment is sent. We make payments by cheque, and if the clients do not have a joint bank account we can issue the cheque in one name only with written authority from all clients.
- The client's partner / spouse is applying for the mortgage but does not qualify for the Right to Buy – can they be added to the deeds after completion?
The purchase price is calculated after deduction of discount based on the length of time that the client(s) have been tenants. If the property is sold or transferred within five years of the completion date, then the council are entitled to reclaim a proportion of the discount. We therefore advise against adding a non owning borrower to the title deeds until the five year period has elapsed. When we report to the client we will offer advice as to how to protect the interests of the non owning borrower (ie Trust Deed, Will) and we also write separately to the non owner recommending that they seek independent legal advice.
- Are there any other extra charges we should know about?
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We occasionally make additional charges or where we carry out additional work (for example, arranging a title indemnity policy). However, as soon as we anticipate that further costs, or if additional disbursements may be incurred, we will immediately advise the client and the introducer.
- What happens on completion?
Once we have received the funds from the new mortgage lender, we pay the purchase monies (together with any costs or rent outstanding) to the Council, usually by bank transfer. Once the Council confirm they have received the funds and completed the matter we then pay the introducer’s fees and deduct our costs. We will also pay any other fee for which we have an authority (such as an ASU). We then account to the client for the residual balance.
- What happens after completion?
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Our post-completion team will apply to the Land Registry to amend the title to the property to reflect the transfer (and new mortgage if applicable).
Procedures
Our staff are greared towards getting cases to completion quickly.
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