House sales scheme
Under the House Sales Scheme, eligible tenants of the Housing Executive have the right to buy their homes at a discount.
House sales scheme
Under the House Sales Scheme, eligible tenants of the Housing Executive have the right to buy their homes at a discount.
A maximum of four buyers may apply to jointly purchase the property but at least one buyer must be the legal tenant.
Eligible for the scheme
You may be eligible if you've been a secure tenant with the Housing Executive for at least five years.
You aren't eligible if you live in:
- sheltered housing
- a property which is part of a group housing scheme
- a single storey or ground floor property, other than a flat, with no more than two bedrooms
Tenant with a tenancy less than five years
If your Northern Ireland Housing Executive tenancy hasn't run for five full years, you might still be able to buy your home if your partner or parent was previously the tenant.
Tenant with rent arrears
If you're a secure tenant who is behind in paying rent to your landlord, you can still apply to the Housing Executive to buy your home.
Your application won't be rejected on the grounds of rent arrears but cannot complete until you pay any overdue rent or other money owed by you to the Housing Executive.
People who aren't eligible to apply
You cannot apply to buy under the scheme if:
- the Housing Executive is taking or intends to take legal possession of the property
- you are a squatter
Discounts
The amount of discount depends on how long you're a tenant. A secure tenant with a minimum five years, receives 20 per cent discount of the market value.
The discount increases by two per cent for each additional tenancy year to a maximum of 60 per cent or £24,000 whichever is lower.
Selling your home
If you sell your home within five years of buying, you must pay back the full discount received. If you sell within ten years, you must give the Housing Executive the option to buy back the property.
You cannot sell your property until the Housing Executive confirms that they don't wish to buy the property.
Valuing your home
An independent valuer will assess the market value of your home. If you disagree with the market value price they give your home, you can ask for a valuation to be done by Land & Property Services. This is called a redetermination.
The market value given by Land & Property Services can go up or down and their valuation is final.
Buying your home
You must make your decision about going ahead to buy your home within six weeks of receiving the offer. As there are costs involved in the home buying process and owning a home, it is important to get professional advice before you make a decision.
You should arrange:
- a house survey
- legal advice
- independent financial advice
If you want a mortgage to pay for the property, you will need a solicitor to draw up contracts.
For more information on the House Sales Scheme, contact the Housing Executive: