Buying your bpha rented home
You may decide that you would like to buy your bpha home. Below you’ll find information about the difference between buying and acquiring your home.
When you have decided what you would like to do, please contact us so that we can check your eligibility then advise you about what happens next.
Whichever applies to you, when you decide to buy a home the first step is making sure it’s an affordable option for you. To buy a home requires a deposit, typically 5-20% of the value of the property, and it’s possible that you may need a mortgage. We recommend that you speak with a Mortgage Advisor, who can take you through what’s involved, the costs, and find options for you. Which?’s guide to the cost of buying a house is a really useful read and goes through each cost element of buying a home.
Costs associated with moving includes solicitor fees and a property survey. Lastly, longer term costs include repairs, insurance and bills, such as water or utilities, that may have been included within your rent previously. Monthly or quarterly service charges may also be applicable – these cover the management and maintenance of a building’s communal areas and are most common if you live in a flat. This article from Which? is a great guide to what bills you might pay as a home owner.
Right to Acquire
For the property you rent from us to be eligible for the Right to Acquire it must have been built or bought by bpha after the 31 March 1997 and funded through a social housing grant provided by the Homes England or local authority, or it should have transferred to bpha from a local authority after 31 March 1997.
https://www.gov.uk/right-to-acquire-buying-housing-association-home
Right to Buy
To be eligible for the Right to Buy you would need to have been a tenant when your home transferred to bpha from Bedford Borough Council. This means that you have a preserved Right to Buy.
https://www.gov.uk/right-to-buy-buying-your-council-home
Right to Shared Ownership
General needs tenants who rent a home from us that has been built using Homes England funding from the 2021 -2026 programme may have the opportunity to purchase your home through the Right to Shared Ownership. For more information, please see the link below.
