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

painting with polycell crack free ceilings
Home and Living

The Benefits of Repainting Your Interiors

Repainting your home’s interior is a simple yet powerful way to refresh and revitalize your living space. Whether you’re looking to update outdated colors, boost your home’s value, or create a more inviting atmosphere, a fresh coat of paint can make a significant difference. In this article, we will explore the numerous benefits of repainting…
Read More →
Breaking News

UK house sales up 19% year on year for December

The latest UK monthly property transaction report from the HMRC.   The provisional seasonally adjusted estimate of the number of UK residential transactions in December 2024 is 96,330, 19% higher than December 2023 and 3% higher than November 2024 The provisional non-seasonally adjusted estimate of the number of UK residential transactions in December 2024 is 98,120, 15%…
Read More →
Estate Agent Talk

UK House Price Index from Nationwide -Thoughts from the Industry

Commenting on the latest UK House Price Index from Nationwide showing property prices have risen by 4.1%, here are some thoughts from the Industry. Daniel Austin, CEO and co-founder at ASK Partners: “We are continuing to see a rise in house prices, which is hopefully the sign of an upward trend developing going into 2025.…
Read More →
Breaking News

House price growth softens at the start of 2025

Annual rate of house price growth slowed to 4.1% in January, compared with 4.7% in December House prices up 0.1% month on month Little change in overall rate of home ownership in recent years despite affordability pressures Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The price of a typical UK home rose…
Read More →
Home and Living

Mastering Sleep: The Bensons for Beds Difference

Sleep is one of the most fundamental aspects of our health and well-being. A good night’s rest rejuvenates the body, sharpens the mind, and enhances overall productivity. Yet, millions of people struggle with poor sleep due to discomfort, stress, and unsuitable bedding. Enter Bensons for Beds, a leading name in the sleep industry, dedicated to…
Read More →
Breaking News

Leaseholders To Benefit Significantly from the removal of Two-Year Rule

Residential property transactions could become easier following the removal of the two-year rule for leasehold property extensions which comes into force today (31 January 2025) but lawyers have warned the necessity of proving ownership could be challenging due to Land Registry backlogs. This significant change means leaseholders no longer need to own their leasehold property…
Read More →