The right to buy scheme in Wales was a government scheme where public sector tenants could buy their homes at a predetermined discount. The scheme ended on January 26, 2019, but will not affect those who have used the scheme already.

What was the right to buy wales scheme?

The right to buy Wales scheme was a scheme for public sector tenants could buy their homes at a discount if they had rented them for 5 years but these 5 years did not have to be consecutive.

The maximum available discount with the right to buy Wales scheme was £8,000.

If your landlord is a social landlord then you may be eligible for the right to acquire Wales scheme which allows you to buy your home from your social landlord if you have rented it form 5 years. The maximum discount available through the right to acquire Wales scheme is £8,000.

If your home used to be owned by the Council but was transferred to

another landlord, such as a housing association, while you were living in it,

you may have the Preserved Right to Buy.

Homes bought through the right to buy Wales scheme were leasehold properties. This means that the ground rent and service charge was paid to the landlord by the right to buy tenant.

If any major work or refurbishment had to be carried out on the property then you will have to pay towards the cost in relation to your share of the total leasehold space where your property is based on. E.g if you are one flat in a block of flats.

The public sector landlord could have been:

  • local Council
  • a housing association
  • or NHS Trust

The qualifying period of 5 years could have also been spent with different landlords and in different homes.

You may also be able to count a period when your spouse or civil partner was a public sector tenant towards your 5 years for qualification for the right to buy scheme Wales.

If you lived with your parents after the age of 16, and you later became the

tenant of the same house or flat, you may be able to count that time too towards your 5 years of qualifying for the right to buy scheme Wales.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.