Former council tenants in Surrey made hundreds of thousands of pounds when they bought and resold their homes under the Right to Buy (RtB) scheme .

Newly revealed figures show that some homeowners have been selling their houses for profits of more than £100,000.

The figures, which have been released by the Land Registry following a Freedom of Information request, show in some parts of Surrey RtB homeowners made an average profit of £95 per day before selling their homes.

RtB is a government policy that allows homeowners living in council accommodation to buy their homes at a discounted rate, based on how long they have been living there.

The policy has been in place since 1980, but the newly released figures only cover sales since 2000 - which is when the Land Registry started recording the amount paid for properties in England and Wales.

The figures show large differences in areas of the county between the amount of profit owners made when selling on their homes.

In Epsom and Ewell, RtB home owners made an average profit of £123,326, while RtB homeowners in Woking saw an average profit of £69,179.

In one case a homeowner bought their home in Mole Valley, only to sell it 21 days later for a profit of £202,500. This works out as a profit of £9,643 per day. 

The highest profit made on a RtB home in Surrey was also in Mole Valley, where a homeowner in the district sold their property for £1,440,000 - a profit of £765,479, only two years after they originally bought it.

Homes in Elmbridge and Waverley were also sold for more than £1 million after being bought under RtB, although as the Land Registry does not have data on how much they were originally bought for, there is no way of telling how much of a profit was made.

Video Loading

This situation is repeated for a house in Epsom and Ewell which was bought under RtB on January 5, 2017, and sold only three days later on January 8 for £174,000.

The Chartered Housing Institute says it thinks it is time to suspend the scheme as something needs to be done to "stem the loss of homes for social rent".

"We support the principle of helping tenants move into home ownership if that's what they want, but it cannot be at the expense of other people in need," a spokesman said.

                                               
Local AuthorityAverage profit on Right to Buy property (£)Average profit per day (£)
Elmbridge73,02758
Epsom and Ewell123,32695
Guildford77,77252
Mole Valley84,70549
Reigate and Banstead71,43648
Runnymede89,54056
Spelthorne75,36350
Surrey Heath76,67456
Tandridge89,64554
Waverley79,57153
Woking69,17945