Sometimes the council will buy back properties that were originally sold under the Right to Buy scheme.
Regeneration schemes
Regeneration schemes improve the quality of individual homes and of neighbourhoods as a whole. Some schemes involve the demolition of existing buildings and the construction of new developments in their place.
If you are a council leaseholder and live in a building that has plans for demolition, the council will need to buy your property under the Buy Back scheme.
Cases of hardship
If you are in extreme financial difficulty and are unable to maintain the costs of home ownership and would like to become a council tenant again, the council may be able to buy back your property. This option is only available to leaseholders who bought their property directly from the council under the Right to Buy scheme and depends on the council having the available funding. Properties are bought back at the original Right to Buy price and not at market value.
Right to Buy homes
If you bought a property through the right to buy scheme and sell within 10 years, you must offer to sell it back to the council (or someone nominated by the council). This is also known as ‘right of first refusal’. You do not need to do this if you bought your property before 18 January 2005.