Know somebody who has had their right to acquire their housing association property declined based on the following reason.
The Housing (Right to Acquire) Regulations 1997 Section 3 Part (1) states that the right to acquire does not arise if the net debt or the peak debt attributable to the dwelling-house on the date of service of the tenant’s notice under section 122 (tenant’s notice claiming to exercise right to acquire) is equal to or greater than the purchase price plus the discount.
No further info provided.
The property is specifically desirable to them, regardless of the upto £9k discount.
Does anybody know if the housing association need to disclose the actual figures?
Cynic in me thinks may be standard rejection to avoid selling.