Right to Buy
Warning about 'Right to Buy Service Companies'
We have recently been made aware of companies advertising to help tenants buy under the 'Right to Buy' scheme. Beware - companies doing this have the sole aim of exploiting tenants under the pretence of helping.
They promote themselves by offering their 'professional expertise' and make promises that include:
- Help completing forms
- Monitoring the process
- Advising on negotiations with us
- Arranging mortgages for households with low incomes or poor credit ratings and county court judgements
Don't get caught out
These companies sometimes require tenants to sign a form that gives them the right to represent tenants when dealing with us.
Their services are not free. They charge for their services along with solicitor's costs as well as valuation and mortgage arrangement fees. These costs are either added to the total amount of the mortgage or the tenant is required to sign up to pay an initial deposit followed by installments.
Their intention is to make as much money as they can. Don't buy into these scams when you can get these services for free from us.
Don't get into debt
Credit and debt problems are ongoing areas of concern that the Trading Standards Service, in Customer Services views seriously and aims to tackle. This new initiative by 'Right to Buy Service Companies' has been identified as yet another scam that targets vulnerable consumers.
Contact your local council and get free and impartial advice
We do not charge a fee to administer an application for the Right to Buy. So, if you require free impartial guidance about the 'Right to Buy' scheme, come to the source and contact our Home Ownership Section by telephone on 020 8227 2916 or 020 8227 2404 where staff will be happy to help you.
Free mortgage and debt advice is also available for anyone in the borough from Trading Standards, the Citizens Advice Bureau, Money Advice Centres, and even some Estate Agents.
If you have been approached by one of these Right to Buy Service Companies or you want general information about credit, debt or mortgages you can contact the Trading Standards Team, who will offer advice and investigate any matters you raise.
