Plans to deregulate social housing sector.

December 24, 2015
Kerb appeal

Speaking at the Communities and Local Government Committee meeting about the housing association sector and the Right to Buy, Brandon Lewis has announced a deregulation package for the social housing sector.

A change to the approach on high income social tenants, this will now be voluntary for housing associations and this is to make the approach consistent as part of the deregulation of the sector. Associations will be able to set their own rents for higher-income tenants, Mr Lewis expected a majority to raise them. Higher rents will, however, remain mandatory for local authority tenants.

Removal of the constitutional consensus regime; housing associations will therefore no longer need permission from the regulator before they undertake certain changes to their organisations such as mergers, change of status, restructuring, winding up or dissolution, they will still however need to notify the regulator when they make these changes rather than seeking consent, an important distinction there.

Abolish the disposals proceeds fund, which means housing associations will no longer need to spend receipts from sales from Right to Buy and Right to Acquire according to rules set by the regulator. Brandon reportedly said “This will give them more flexibility to manage their funds, to build more affordable homes and help more people into home ownership, whilst ensuring that the historic grant is reinvested in housing as it was intended”.

A special administration regime for the sector, to be used in the unlikely event of a housing association becomes insolvent.

 

 

 

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

Breaking News

How to market to Estate Agents UK

The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More →
Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →
Breaking News

Breaking Property News 15/11/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Digital transformation of real estate drives profitability Press Release – London 14th November 2024 – Following the October budget, estate agents across the UK are seeking new ways to adapt to an evolving property market. Rising costs and shifting buyer expectations have driven a need…
Read More →
Estate Agent Talk

Labour’s Vision for Homeowners and Renters: Key Changes to Expect

The UK housing market continues to be a complex and often challenging landscape for both homeowners and renters. Labour’s vision for housing reform aims to address longstanding issues in affordability, security, and sustainability, setting out a series of policy proposals that could reshape the property market. Whether you are a homeowner, a renter, or an…
Read More →
Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More →