Right to Buy pilot scheme starts.
As of yesterday Housing Association Tenants will be able to take their first step to owning their own home under government plans to extend Right to Buy according to the press release from the Department for Communities and Local Government.
They will be the first in the country to be able apply to the new Voluntary Right to Buy scheme as part of a pilot that is being run by 5 housing associations ahead of the national rollout later this year.
It follows an historic voluntary agreement between the government and the National Housing Federation to extend the Right to Buy to 1.3 million housing association tenants. Under the agreement, every home sold will be replaced nationally with a new affordable home.
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 trailblaizing pilot scheme”.
To view the press release in full click here
You May Also Enjoy
Annual house price growth halves in September
Homesellers say valuation appointment is key
London’s rental market bucks the national trend
Higher mortgage rates put buyers in the driving seat
Prime London buyer demand cools in Q3
