If your home has been refurbished by the Council over the last ten year then you may require to repay the costs incurred. The cost of the refurbishment works must exceed £5,500. An example of how it is calculated is shown below.
|
Market value
|
£30,000
|
|
Discount
|
60%
|
|
Purchase price
|
£18,000
|
|
Costs incurred
|
£35,000
|
|
Less
|
£5,500
|
|
Amount required to be paid
|
£30,500
|