Barking and Dagenham Council tenants could receive a
£40,000 cash payment in place of their Right to Buy discount if they purchase
their new home on the open market by 31 March. The scheme is known as the
‘Right to Buy Social Mobility’. It enables tenants who are eligible to buy
their current council property through the Right to Buy process to forego the
discount available on that particular council property and access a £40,000 cash
payment towards the purchase of another home on the open market instead. The
scheme is very limited with only enough cash for 40 applicants and is only
available until Thursday 31 March, by which point the council tenant must have
been assessed as eligible for the Right to Buy, approved for a mortgage and
completed on the sale of their new home. Read more on the Barking &
Dagenham website.
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