Property

Right to Buy launches

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25th January 2016
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A pilot for the new Right to Buy scheme has launched today, meaning that the first housing association tenants will be able to apply for the scheme through 5 housing associations ahead of the national rollout later this year.

It follows a 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.

The existing Right to Buy gives social housing tenants the opportunity to buy their home with a discount of £103,900 in London and £77,900 elsewhere.

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 trailblazing pilot scheme."

The pilots are being delivered by:

- L&Q – Croydon LBC, Enfield LBC, Greenwich LBC, Haringey LBC, Lambeth LBC, Lewisham LBC, Newham LBC, Southwark LBC

- Riverside – Liverpool CC, Halton BC, Knowsley MBC, Sefton MBC, St Helens MBC, Wirral MBC

- Saffron Housing – South Norfolk DC

- Sovereign – Cherwell DC, West Oxfordshire DC, Vale of White Horse DC, South Oxfordshire DC

- Thames Valley Housing Association – Guildford BC, Hart DC, Runnymede BC, Rushmoor BC, Woking BC

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