This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Yesterday saw the initial pilot for the Right to Buy scheme launch in certain regions of England. This means that the first housing association tenants will be able to apply for the scheme through 5 separate housing associations, ahead of a countrywide rollout later in the year.
Agreement
This follows a voluntary understanding between the Government and the National Housing Federation, to extend the Right to Buy to 1.3 million housing association tenants. As part of this agreement, every home sold would be replaced nationally with a new affordable home.
At present, the existing Right to Buy scheme enables social housing tenants to buy their home with a discount of £103,900 in the capital and £77,900 elsewhere.
Right to Buy pilot schemes launch
Communities Secretary Grey Clark observed, ‘anybody who works hard and aspires to own their own home should have the opportunity to realise their dream. The Right to Buy is central to that and has already helped more than 46,000 into homeownership since we reinvigorated the scheme in 2012. Thanks to the historic voluntary agreement with the sector a further 1.3 million housing association tenants now have the chance to open the door to their own home, starting with this trailblazing pilot scheme.’[1]
Pilot Areas
The pilot areas are being delivered by:
- L & Q- Croydon LBC, Enfield LBC, Greenwich LBC, Haringey LBC, Lambeth LBC, Lewisham LBC, Newham LBC, Southwark LBC
- Riverside- Liverpool CC, Halton BC, Knowsley MBC, Sefton MBC, St Helens MBC, Wirral MBC,
- Saffron Housing- South Norfolk
- Sovereign- Cherwell DC, West Oxfordshire DC, Vale of Horse DC, South Oxfordshire DC
- Thames Valley Housing Association-Guildford BC, Hart DC, Runnymede BC, Rushmoor BC, Woking BC
[1] http://www.propertyreporter.co.uk/property/right-to-buy-launches.html
