You can sell your home whenever you like, but you may have to pay back some or all of the discount you received.
You may also have to offer the property back to the Royal Borough of Greenwich or a housing association.
If you want to sell within the first ten years of buying your home, you must offer it to either your former landlord or to another social landlord in your area at full market value.
The amount you need to pay if you sell within the first five years is shown in the table below.
| Sale period | Repayment of discount |
|---|---|
| Within the first year of sale | 100 per cent |
| Within the second year | 80 per cent |
| Within the third year | 60 per cent |
| Within the fourth year | 40 per cent |
| Within the fifth year | 20 per cent |
In addition, if you sell within the first five years, you'll have to pay a percentage of the profit you make on the sale back to your landlord. This percentage will be equivalent to the percentage of discount that you got when you bought your home.
For example, if you were given a 50 per cent discount when you bought your property, you must pay 50 per cent of your profits to your former landlord. The sum you pay back doesn't include any money you spent on home improvements.