Property News · May 28, 2016

When sky-high repair bills can make right to buy the wrong choice


Former local authority tenants who bought their properties for as little as £44,000 are facing demands of up to £50,000, which they can’t afford to payCouncil tenants thinking of taking up the right to buy their home have been warned they could end up being virtually bankrupt by eye-watering major works bills from their local authority freeholder. The issue affects people who have bought former council flats on the open market, as well as right to buy owners.Take, for example, the plight of 50 leaseholders in Oxford. In January, in the latest twist in an eight-year saga, Oxford city council presented them with a £50,000 bill for refurbishment of their tower block. Not £50,000 between them, but £50,000 each. Continue reading…

Source : theguardian.com
Read more…When sky-high repair bills can make right to buy the wrong choice

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