Posted 21.11.16
Wandsworth Council: Review link
Council tenants in Wandsworth could soon have a Right to Part Buy a share of their home with a substantial discount.
From next year, secure tenants not able to afford the full price of their council home would instead be able to purchase a proportion of it and pay a low rent on the rest.
The percentage being bought would reflect the proportion of the full £103,900 Right to Buy discount, so for example buying a 25% share would mean a discount of £25,975.
There would also be the opportunity of purchasing additional shares, up to 100% of the property over time.
Under the proposals, the council would then reinvest the proceeds of Right to Part Buy sales into building new affordable homes.
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Posted 16.11.16
Redfern Review: Review link
The Redfern Review, which was commissioned by John Healey MP in late October 2015, is now available for download.
This is an independent review into the causes of falling home ownership and the future direction of home ownership trends.
Five years after the UK economy emerged from the global banking crisis and deep recession, opportunities to buy should be increasing yet home ownership levels have fallen every year and the number of people with a mortgage in 2014 was 10% lower than in 2010.
Standing back, the overall trend to declining home ownership levels has been a long term one, showing a clear trend since the turn of the century. Current schemes and public policies are failing to reverse the trend or meet people's widespread aspirations.
