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COUNCIL RIGHT TO BUY: Your Right to Buy your home

Council Right to Buy: Step 3 - Your landlord's Section 125 Notice

If your landlord has agreed to sell your home to you, he must send you a separate offer notice (known as the Section 125 Notice) which tells you the price you have to pay and the terms and conditions of the sale. He must send this within a further 8 weeks after you have received your RTB2 form if your home is a house and you are buying a freehold, or within 12 weeks if your home is a flat or maisonette. If you are buying a house on leasehold terms, the time limit is also 12 weeks.

The Section 125 Notice is an important document and you should read it very carefully. It will tell you five main things:

  • It will describe the property which you have the Right to Buy.
  • It will tell you the price the landlord thinks you should pay for it. To calculate this, your landlord must first work out how much your home was worth at the date on which you submitted your application form, and then take off your discount. If you have made improvements, these are not allowed to put the price up. If your discount is reduced by the cash limit or the cost floor, the notice must say so.
  • It will give estimates of the service charges or improvement costs you will have to pay during the first 5 years after you buy your home, if it is a flat or maisonette.
  • It will describe any structural defects that the landlord knows about.
  • It will contain the terms and conditions that your landlord thinks should be attached to the sale. These may be set out either in the form of a draft of the legal document for you to sign, or as part of the notice, or on a separate sheet.

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© Crown Copyright (Correct at time of writing January 2005. Please check with your financial services provider for any changes.)

Council Right to Buy Mortgage Search

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Council Right to Buy UK will put you in touch with a broker who's aim is to help you find a range of mortgages and competitive interest rates which will help you decide on the most appropriate mortgage available.

Bad credit? If you have CCJs, defaults, mortgage or rent arrears - we have access to specialist brokers to help you! Enquire about a council right to buy mortgage now. Please complete the quick, private NO OBLIGATION form below.

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PLEASE TRY TO FILL IN AS MANY FIELDS AS POSSIBLE THANK YOU.

Mortgage term required (years):

Have you approached a solicitor to act on your behalf for your council right to buy purchase?:

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Is your property standard construction?:
(brick built with a slate or tiled roof)

Yes No Not sure

Type of property?:

Joint or single enquiry:

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1st right to buy enquirer's date of birth:

2nd right to buy enquirer's date of birth:

First enquirer's annual income:

Second enquirer's annual income:

Mortgage amount if known:(*)

Have you received a council valuation yet?

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Council valuation of property:

What is the discounted right to buy price: (if you know)

Total of other loans or credit card balances:

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Please note it is not always possible to process enquiries based solely on the information contained in this form. Each case is unique and it may be necessary to speak to you to be able to assess your own particular circumstances to help find the most appropriate course of action. Please supply at least one phone number.

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© Council Right to Buy UK is an independent marketing website and not a lender or broker. We do not sell or recommend mortgages or broker services. We pass on enquiries to financial service providers and cannot offer advice. Council Right to Buy UK is not responsible or liable for any financial service or mortgage obtained through a 3rd party. A council right to buy mortgage enquiry from this website does not constitute an offer to provide a mortgage. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
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