Right to acquire
What is Right-to-Acquire?
Right-to-Acquire is a government low-cost-home-ownership option whereby eligible tenants can purchase the property they currently rent from Sentinel, with the benefit of a discount.
Example:
1 bedroom flat in Fleet
Valued at £100,000
Less £16,000 Right-to-Acquire discount
Eligible tenant can purchase this property for £84,000
How much discount do I get off the purchase price?
The maximum discount entitlement for tenants living in the following Local Authority areas is:
- Hart District Council £16,000
- Basingstoke & Deane Borough Council £13,500
- Rushmoor Borough Council £16,000
- East Hampshire District Council £13,500
- Surrey Heath Council £16,000
Regardless of the tenancy duration the discount is subject to these maximum discount levels, as determined by the government.
If you have purchased a property under the Right-to-Acquire option before and qualify again, your discount will be reduced by the amount previously claimed.
Who is eligible to apply?
Secure and Assured tenants who currently rent a property from Sentinel where their tenancy began:
- Before 18th January 2005 – they are eligible to apply after 2 years from the start date of their tenancy
- After 18th January 2005 – they are eligible to apply after 5 years from the start date of their tenancy
Please check your current tenancy agreement to determine whether you are a Secure or Assured tenant. Please note that Assured Shorthold tenants are not eligible.
Further eligibility conditions for tenants:
Tenants who are either:
- bankrupt or have a bankruptcy petition pending
- subject to a possession order
- are the subject of an on-going Anti-Social behaviour investigation, or have been found to have perpetrated anti-social behaviour in the preceding 2 years of their application to purchase
- or have been in rent arrears in the last 12 months
Will not be able to purchase.
Further information is available concerning joint tenancies, qualifying successor of tenancies and the inclusion of family members in the purchase of a property. Please call the Sentinel Leasehold team on: 01256 338800.
Are there any properties that are not available to purchase, even if the tenant meets all other eligibility conditions?
Yes. If an eligible tenants current property falls into one of the following categories, they are not eligible to purchase:
- properties built before 1st April 1997
- properties built or purchased by Sentinel after 1st April 1997 without the use of public funds
- sheltered accommodation
- properties subject to rural restrictions
- properties specifically adapted for tenants with disabilities
- properties deemed particularly suitable for elderly tenants
- properties where an ‘initial demolition notice’ has been served
- properties that would be difficult to replace either due to type or location, e.g. four bedroom properties
Important information for eligible tenants who wish to purchase the flat they currently rent from Sentinel
If you purchase a flat from Sentinel you will be required to make annual payments for ground rent and service charges, and pay towards the repair and major works costs to the common areas and structure of the building, regardless of whether they directly affect your dwelling.
In the majority of cases, purchaser’s of houses will also have to pay a service charge for items like: Buildings insurance, maintenance on communal areas on the estate, maintenance for un-adopted roads/car-parking spaces etc. The service charge does not include maintenance of the house itself.
I think I am eligible and the property I currently rent from Sentinel is eligible. How do I apply?
- Contact Sentinel Housing Association and ask for an RTA1 form.
- Within four weeks of Sentinel receiving your completed RTA1 you will receive an RTA2, which will either confirm or deny your Right-to-Acquire.
- If you do qualify for the Right-to-Acquire, your property will be valued as at the date on which Sentinel received your completed RTA1. Sentinel will appoint an independent surveyor to provide a market valuation for a property. Sentinel will invite you to purchase the property under an offer notice – RTA3 form.
- From the date you receive the RTA3 form offering to sell you the property, you have twelve weeks to complete the purchase of your property.
Frequently asked questions
Will Sentinel continue to repair my property?
Sentinel will not carry out any repairs or maintenance on your property from the moment you apply to purchase your property and from there-on after. If you do not complete the property purchase you will revert back to being a tenant, whereby Sentinel will continue to repair and maintain your property.
After I purchase the property from Sentinel, am I free to sell it whenever I want to?
You will not be able to sell the property within five years without repaying some, if not all, of the discount back to Sentinel. The repayment will also include a consideration of the revised property value at the date of re-sale. You will be responsible for all valuation and administration costs.
More information
The information provided above is only a guide to the Right-to-Acquire option and should not be considered to be exhaustive. If you believe you qualify for the Right-to-Acquire and would like more information before applying, please contact the Sentinel leasehold team on 01256 338800, or e-mail Leasehold@sentinelha.org.uk and ask for a copy of the Housing Corporation booklet,‘Guide to the Right-to-Acquire’. With Right-to-Acquire being a government scheme, Sentinel is led by any government changes that supersede this information.
