Under the `Right to Buy` scheme, you may be able to buy your home at a price lower than the full market value. You may be entitled to a discount depending on the length of time you have been a tenant. You may qualify if: you have been a secure or public sector tenant for three years you live in a house or bungalow which is not specifically designated for residents over the age of 65 (freehold) you live in a flat (option of buying a 125 year lease) The property's value will depend on its size, and the market value of properties in the area. The amount of discount offered is capped at £87,200 . If you share part of your home with other properties (e.g. stairwell in a block of flats), you will usually have to pay a yearly service charge. Click here for further information on Right to Buy If you want to sell your home again within five years, you will have to repay some of the discount given: First year The whole discount will be repayable Second year 4/5 four fifths of the discount will be repayable Third year 3/5 three fifths of the discount will be repayable Fourth year 2/5 two fifths of the discount will be repayable Fifth year 1/5 one fifth of the discount will be repayable Sixth year No repayment required The amounts to be repaid will be based on the resale value of the property and will not include the value of any improvements. There are some exemptions allowed - for example if the property is staying in the same family.