Housing Associations take first steps to right-to-buy purchase
Right-to-Buy schemes have today launched for tenants of five housing associations across England.
The five pilot schemes have launched in co-operation with associations in Merseyside, London, Norfolk, Thames Valley and Oxfordshire.
The Government are hailing the scheme as “historic” with 1.3 million tenants set to become able to buy the homes they currently rent at discounts of up to £103,900 in London and £77,900 outside of the capital.
The Government also say every home sold will be replaced with a home available at 80% of market rate, the bar the Government sees as affordable as part of an agreement with the National Housing Federation.
Communities Secretary, Greg Clark said: “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.”
The pilots 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 DC
- Sovereign – Cherwell DC, West Oxfordshire DC, Vale of White Horse DC, South Oxfordshire DC
- Thames Valley Housing Association – Guildford BC, Hart DC, Runnymede BC, Rushmoor BC, Woking BC
More information can be found at ownyourhome.gov.uk