The purchase price payable for your home is the market value less the discount to which you are entitled. There are two examples of this shown below:
|
Type of property
|
Flat
|
House
|
|
Date present tenancy commenced
|
30 January 2001
|
1 October 2002
|
|
Number of years as a tenant
|
10 years
|
15 years
|
|
Discount
|
60%
|
30%
|
|
Market value
|
£40,000
|
£60,000
|
|
Discount
|
£24,000
|
£18,000
less £3,000
£15,000
|
|
Purchase price
|
£16,000
|
£45,000
|
Unfortunately, if you wish to know the market value of your property the Council is unable to confirm this without instructing out a survey. A survey will only be instructed by the Council if you are purchasing your property. For indication of the house prices in your area you may wish to check the local press or local estate agents.