Right-to-Buy scheme expansion set to benefit thousands

Right-to-Buy scheme expansion set to benefit thousands

More housing association tenants will have an opportunity to buy their homes through the Government’s right-to-buy scheme, as a result of the Chancellor’s plans for a ‘large-scale’ pilot programme.

In his Autumn Statement, Philip Hammond confirmed he would drive the right-to-buy scheme forward, giving thousands of housing association tenants the chance to become homeowners for the first time.

The scheme will allow eligible tenants, who have lived in their property for 10 years or more, to buy them at a discount of up to 70 per cent, and is intended to help more people to become homeowners.


Pete Ball, chief executive of personal finance at specialist lender Together, commented: “We welcome the Government’s announcement of an extensive pilot of right-to-buy for housing association tenants; a move that, if successful, should help thousands of tenants to get onto the housing ladder. We have been providing right-to-buy loans to council tenants for over 10 years and last year alone, helped hundreds of customers to buy their rented property and become homeowners. Unfortunately a large proportion of these tenants are often unable to borrow from mainstream lenders because of the type of property, or because of their income stream.

We cater for a variety of income sources, including DWP, and for a range of property types, as well as those with a less-than-perfect credit history, and we have committed funding of  £100m for right-to-buy customers. It is encouraging that this pilot, if successful, could give many more consumers the chance they were hoping for.”

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Latest Comments

Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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