Council House Owner? Need to sell your property fast for cash?
If you live in Glasgow, or the West of Scotland, and you bought your council home over three years ago, you may have an untapped source of wealth available to you. If you bought it less time ago, you may have capital tied up that you can release, you could sell your council house for cash today to the Property Advice Bureau. You could even sell and rent back.
WHAT RULES APPLY TO BUYING MY COUNCIL HOUSE IN GLASGOW?
The length of time you have rented your council house for in order to qualify for a discount is between two and five years, and in addition your council tax must be up to date i.e. you have no arrears outstanding.
The new Housing (Scotland) Act 2001 was in fact introduced in 2002, and the Right to Buy was made law on 30th September 2002. The rules regarding discounts only affected tenants who moved after the new act was introduced. Tenants in place before the act was enacted, and still remaining in the same property, had or have the old discounts applied. For full information contact your local authority.
WHAT DISCOUNT CAN I EXPECT IF I BUY MY COUNCIL HOUSE?
Discount is calculated depending on the amount of time you have spent as a qualifying tenant. For tenancy's after Setember 2002, discounts vary from 20% to 35%, or a maximum of £15,000. For tenant's before September 2002, the discount varies from 30% to 60%, and sometimes as much as 70%, dependant upon the house type. In order to qualify, it is likely that the tenancy must have been continous i.e. without a break.
WHAT IS THE APPLICATION PROCESS?
- Contact your local authority in Glasgow or the West of Scotland and complete the application
- Once the application has been accepted, a valuation will be carried out, and an offer of sale made to the tenant
- The tenant will now have eight weeks to accept the offer and organise finance, if required
- The tenant will require a solicitor to act on their behalf
CAN I SELL MY COUNCIL HOUSE TO THE "PROPERTY ADVICE BUREAU"
BEFORE 3 YEARS?
After a three year period the tenant can sell without penalty, but prior to this a penalty system will be in place on a pro rata basis with regard to the length of time the tenant has owned their home.
Yes, you can sell to the Property Advice Bureau before three years, as we are happy to buy a council property, even if it has not been held for the full qualifying period. The Property Advice Bureau would settle any discount owing to the council on behalf of the tenant/new owner, we will even rent back your home.
This would enable you to release perhaps thousands of pounds OF cash today for that trip abroad to visit family and/or friends, whilst enabling you to remain in your home for as long as agreed.
Contact the Property Advice Bureau now.
