Right To Buy vs. Right To Acquire: Difference and Comparison
By Muazma Batool & Muneeza Rehman — Published on April 13, 2024
Right to Buy allows council housing tenants in the UK to purchase their homes at a discount, while Right to Acquire offers a similar option for housing association tenants, with some differences in eligibility and discount levels.
Difference Between Right To Buy and Right To Acquire
Right to Buy is a policy introduced in the UK that enables tenants of council housing to purchase their homes at a discount, which varies based on the length of tenancy and the type of property. This initiative aims to encourage homeownership among long-term tenants of public housing, offering significant discounts as an incentive. Right to Acquire, on the other hand, is a similar scheme designed for tenants of housing associations. While it also allows tenants to buy their homes at a discounted rate, the discounts offered through Right to Acquire are generally lower than those available under Right to Buy.
Muazma Batool
Apr 13, 2024
Both schemes aim to facilitate homeownership but differ in their eligibility requirements, discount levels, and the types of properties they apply to. Right to Buy is known for offering potentially larger discounts and applies to a broader range of public housing. In contrast, Right to Acquire is targeted more specifically at housing association properties, with some limitations based on how the properties were funded and developed.
Muazma Batool
Apr 13, 2024
The choice between Right to Buy and Right to Acquire depends on the tenant's current housing situation, eligibility, and the specific terms offered by their landlord. It's important for tenants to consider the long-term implications of purchasing their home, including financial responsibilities and the potential impact on their housing security.
Muazma Batool
Apr 13, 2024
Right To Buy vs. Right To Acquire Comparison Chart
Discount Level
Higher, based on tenancy length and property type
Lower, fixed amounts depending on region
Muazma Batool
Apr 13, 2024
Tenancy Requirement
Minimum 3 years (may vary)
Varies, often requires a qualifying period
Muazma Batool
Apr 13, 2024
Property Type
Applies broadly to council properties
Restricted to certain housing association properties
Muazma Batool
Apr 13, 2024
Impact
Encourages homeownership among public housing tenants
Aims to extend homeownership within housing associations
Kaitlyn
Apr 13, 2024
Right To Buy vs. Right To Acquire Definitions
◉Right To Buy
Applicable to a wide range of council properties.
The family was eligible to buy their council house through Right to Buy.
Olivia
Feb 22, 2024
◉Right To Acquire
Enables housing association tenants to buy their homes at a discount.
As a housing association tenant, he opted for Right to Acquire to purchase his flat.
Muazma Batool
Feb 22, 2024
◉Right To Buy
A scheme allowing council tenants to buy their home at a discount.
After renting her council flat for over a decade, she used Right to Buy to purchase it.
Muazma Batool
Feb 22, 2024
◉Right To Acquire
Aims to broaden homeownership within housing associations.
Right to Acquire has made homeownership accessible for many housing association tenants.
Muazma Batool
Feb 22, 2024
◉Right To Buy
Discounts vary by location and property type.
Living in a council apartment, they received a different Right to Buy discount than if they had been in a house.
Olivia
Feb 22, 2024
◉Right To Acquire
Certain modern properties may not be eligible.
Despite being a tenant, her home wasn't eligible for Right to Acquire due to its recent construction.
Leo
Feb 22, 2024
◉Right To Buy
Aimed at encouraging council housing tenants' homeownership.
The Right to Buy scheme enabled many in her neighborhood to own their homes.
Muazma Batool
Feb 22, 2024
◉Right To Acquire
Offers fixed discount amounts that vary by region.
They benefited from the Right to Acquire discount specific to their region.
Muazma Batool
Feb 22, 2024
◉Right To Buy
Offers larger discounts for longer tenancies.
His long tenancy qualified him for a substantial Right to Buy discount.
Muazma Batool
Feb 22, 2024
◉Right To Acquire
Restricted to properties funded in certain ways.
Her eligibility for Right to Acquire depended on the funding used for her housing association property.
Muazma Batool
Feb 22, 2024
Right To Buy vs. Right To Acquire Frequently Asked Questions
How do I apply for Right to Buy or Right to Acquire?
Contact your landlord (council or housing association) for application details and to confirm your eligibility.
Henry
Apr 13, 2024
Can I use Right to Buy for any council property?
Most council properties are eligible, but exclusions apply, such as non-standard constructions or properties in certain areas.
Muazma Batool
Apr 13, 2024
Are all housing association properties eligible for Right to Acquire?
No, eligibility depends on factors like the property's funding source and when it was built.
William
Apr 13, 2024
Who is eligible for Right to Buy?
Council housing tenants with at least three years of tenancy, subject to specific eligibility criteria.
Muazma Batool
Apr 13, 2024
What discounts can I expect with Right to Acquire?
Discounts under Right to Acquire are fixed and vary by region, generally lower than Right to Buy.
Muazma Batool
Apr 13, 2024
How does the discount work if I'm joint tenants?
The discount is calculated based on the total tenancy period of all eligible joint tenants.
Olivia
Apr 13, 2024
What happens if I'm not eligible for Right to Buy or Right to Acquire?
Explore other homeownership schemes or discuss alternative options with your landlord.
Leo
Apr 13, 2024
Are there any costs besides the purchase price?
Yes, you'll need to consider additional costs like mortgage fees, survey costs, and legal fees.
Muazma Batool
Apr 13, 2024
Do I need a mortgage to buy through these schemes?
Yes, if you cannot afford to buy the property outright, you will need to secure a mortgage.
Leo
Apr 13, 2024
Can I sell my home after purchasing through Right to Buy or Right to Acquire?
Yes, but selling within a certain period may require you to repay some or all of the discount.
Kaitlyn
Apr 13, 2024
Content Creators
Written by
Muazma BatoolAs a content editor, Muazma Batool is not just a grammar guru but a creative mastermind who breathes life into every word. With an eagle eye for detail and a passion for storytelling, she transforms bland text into engaging content that captivates audiences and drives results.
Co-written by
Muneeza RehmanAt Comparisons.wiki, Muneeza skillfully navigates the vast sea of information, ensuring clarity and accuracy as the lead content editor. With a keen eye for detail, she curates every comparison to enlighten and engage readers.
