Right to buy
The Government has plans to extend Right to Buy so that housing association tenants may be able to apply to buy their homes. This new scheme will be called Voluntary Right to Buy. The details of the scheme are currently being worked out and we have little further information at this stage.
We think that:
- discounts will be similar to council Right to Buy discounts
- we can refuse permission for you to buy your home, but if we do you can have a “portable discount” which you can use to buy a newly built property
- the scheme may be introduced gradually; this may restrict the number of people who can apply to buy their homes.
You can register for information updates on the government’s website.
In the Autumn Budget 2017, the Government announced a two-year Midlands Voluntary Right to Buy (VRTB) pilot across East and West Midlands. The pilot will start in summer 2018.
The pilot will test some of the key elements of VRTB that have yet to be tried. This includes portability i.e. being able to take your discount with you, if you do not have the VRTB on your current home. It will also test one-for-one replacement which is a requirement for Landlords to build more homes to replace those lost under the VRTB scheme.
We will continue to update you as and when we receive any more information.