If you decide to sell your home, you need to be aware of the following:
Repayment of discount
If you bought your flat under the ‘Right to Buy’ scheme less than three years ago you will be required to repay the discount you were given.
For example:
Within 1 year – the full discount is repayable
Within 2 years – two thirds of the discount is repayable
Within 3 years – one third of the discount is repayable
After 3 years - no discount repayable
Charges to Solicitor
We will charge your solicitor for answering any of their enquiries and providing information in connection with the sale of your flat.
Assignment
The buyer’s solicitor must make sure we receive a copy of the ‘Notice of Assignment’. This is the document that the buyer signs so show they have taken over the lease and they are responsible for any payments.
Service Charge payments.
You must continue to pay your service charges up until the date of sale. After the sale the new lessee must pay all the service charges due, even if they relate to a period before their purchase. They will receive the credit or debit on any estimated charges that you paid.
You should make sure that your solicitor makes proper provision for any payments you have already made and any reimbursement to or from the new owner.
Buying back properties.
Neither Hounslow Homes or the London Borough of Hounslow have a policy of buying back properties sold under the ‘Right to Buy’ scheme, unless the property is part of a major redevelopment scheme. This is because there is a strong housing market in Hounslow.
If major redevelopment is going to be carried out in your area you and the other residents will be fully consulted on any plans. If your property is to be demolished, we will purchase it from you for a fair price. There may be options to purchase another property in the area or if you wish, to become a tenant on the same or a different estate. Full support, advice and moving costs would be provided.
If you have any queries about selling your property, contact the Home Ownership Unit by emailing home.ownership@hounslowhomes.org.uk
or contact us by phone:
If your property is in Feltham, Hanworth or Bedfont: 020 8583 3418
If your property is in Hounslow, Heston, Cranford or Isleworth: 020 8583 3417
If your property is in Brentford or Chiswick: 020 8583 4295