Green Light for RTB extension to housing associations.

October 8, 2015

So the Governement has achieved what it set out to do in it’s pre election manifesto,  with the Right-To-Buy (RTB) now to be extended to Housing Association tenants without the need to change or pass new laws, there will now be no battle in the House of Commons or for that matter the House of Lords over this matter.

David Cameron confirmed this news in  his Party Conference speech yesterday in Manchester, he said an agreement has been reached on this pledge. “Communities secretary Greg Clark has secured a deal with housing associations to give their tenants the right to buy their home.”

The agreement between the National Housing Federation and housing associations will see 1.3 million tenants offered the chance to buy their home at Right to Buy discount level. Mr Cameron said the first tenants will be able to “start buying their homes from next year”.

According to the government website, housing associations will offer a discount to tenants who buy their home, the housing association will be compensated for that discount directly by the government, the proceeds from the sale including compensation will be used to replace the house sold.

David Orr, Chief executive of the National Housing Federation,  said the deal would see all homes sold off replaced.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Home and Living

Why Walk-In Baths Can Enhance the Value of Your Home and Property

Walk-in baths are becoming an increasingly popular feature in modern homes, and for good reason. With an ageing population, a greater emphasis on accessible design, and a desire for luxury upgrades, walk-in baths offer both practical and aesthetic advantages. Beyond their health and convenience benefits, they can also significantly enhance your property’s value. Increased Accessibility…
Read More →
Rightmove logo
Breaking News

Prices reach new record despite more subdued late Spring market

New seller asking prices rise by 0.6% (+£2,335) this month to a new record of £379,517. However, this month’s seasonal price increase is the lowest at this time of year since 2016, as the decade-high number of homes for sale limits price growth The traditionally strong late Spring market is more subdued following a busy…
Read More →
Home and Living

Choosing the Perfect Wooden Fence for Your Backyard

Looking to transform your backyard with a beautiful wooden fence? You’re not alone. Many homeowners in Dane County find themselves overwhelmed by the sheer variety of wooden fence options available today. As a wood fence company in Dane County, Solid Fence Co. has helped countless property owners navigate these choices to find the perfect backyard…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker

Average rates for 2-year and 5-year fixed-rate mortgages Term Average rate Weekly change Yearly change 2-year fixed 4.61% -0.02% -0.80% 5-year fixed 4.59% -0.01% -0.42% Lowest rates for 2-year and 5-year fixed-rate mortgages Term Lowest rate Weekly change Yearly change 2-year fixed 3.72% +0.00% -1.03% 5-year fixed 3.78% +0.00% -0.56% Average fixed-term mortgage rates for…
Read More →
Breaking News

Spotahome Bags €5 Million to Grow Its Game-Changing Rental Platform

You’ve just landed a new job in Berlin. Exciting, right? Except now you’re stuck halfway across the world, scrolling through sketchy listings, trying to rent an apartment you’ve never seen from someone you don’t trust. It’s stressful, confusing, and, honestly, pretty common. That’s the exact problem Spotahome was built to solve, and they’ve just raised…
Read More →
Rightmove logo
Breaking News

Increase in US buyers enquiring about homes for sale in UK

New analysis shows an increasing number of people from the United States have been enquiring about homes for sale in the UK since the start of the year: There’s been an 19% increase in enquiries from the US to the UK compared to last year, and the highest number since 2017 The majority (47%) of…
Read More →