Your home could be a valuable asset for you and your family and an investment for the future and home ownership could give you more freedom to make the changes you want to your home.

The Right to Buy scheme gives tenants in England the right to buy their home at a discount, as long as they have been tenants for at least five years.

The top discount under the Right to Buy in England has been increased. You could now get a maximum discount of up to £77,000, or £102,700 if you live in London. Under plans announced by Government, this amount will now increase every April in line with inflation.

The discount with the scheme increases with the length of tenancy up to a maximum limit. If you are looking to purchase a house, after five years’ tenancy, the discount is set at 35% of the property value plus 1% for each year beyond the qualifying period, up to a maximum of 70%.

If you are interested in a flat, the discount starts at 50% and rises by 2% each year up to a maximum of 70%.

Remember, buying your home is a big decision. The responsibilities, costs and financial commitments that ownership brings need to be thought about carefully, so you should always get impartial financial and legal advice before buying.