What is Right to Acquire?

Full Definition

Right to Acquire is a government scheme in England that allows eligible housing association tenants to buy the home they rent at a discount. It is a counterpart to Right to Buy, which applies mainly to council tenants. To qualify, you generally need to have been a public-sector tenant for a minimum qualifying period, the property must have been built or bought by the housing association after a set date and funded in a particular way, and certain property types are excluded. The discount is a fixed cash amount that varies by region, rather than a percentage of value. If you sell within a set period after buying, you may have to repay some or all of the discount. Buying gives you ownership and the chance to build equity, but you take on responsibilities such as maintenance, buildings insurance and any mortgage costs. Purchases may attract Stamp Duty Land Tax depending on the price; check current thresholds via gov.uk or the stamp duty calculator.

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