Posted 18.01.17
Liz Anderson, Senior Consultant, Altair: Blog link
The Government introduced a new RTB policy in March 2012 "Reinvigorating RTB". This increased the maximum RTB discount to £75,000 (which was then increased to £100,000 in London in March 2013 and this now increases by CPI in April each year).
It also introduced the idea that councils could retain all surplus RTB receipts (rather than just 25% as previously) if the receipts were used for one-to-one replacement. In order to retain these surplus RTB receipts, each authority had to enter into a RTB Agreement with the Government.
Liz Anderson breaks down the rules governing how local authorities can use right to buy (RTB) receipts.
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Posted 11.01.17
National Housing Federation: Article link
A research report, commissioned by the National Housing Federation and the five participating housing associations, was conducted by the Centre for Regional Economic and Social Research at Sheffield Hallam University during 2016.
The findings have provided key learning points for the sector, the next piloting phase and for the national scheme when it is introduced.
The report found that the pilot has been an effective way of testing the scheme, the applications process and how any hurdles can be overcome.
Other findings of the report include:
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Posted 09.01.17
Wandsworth Council: Article link
Council tenants in Wandsworth can now apply to buy a share of their home with a substantial discount.
The scheme enables council tenants who qualify for Right to Buy, but can't afford the full price of their home, to buy a discounted share instead and become a leaseholder while paying a low rent on the rest.
The percentage being bought would reflect the proportion of the current full £103,900 Right to Buy discount, so for example buying a 25% of a home share would mean a discount of £25,975.
To be eligible, applicants must be secure tenants of at least three years standing who have not received Housing Benefit for 12 months before applying, and must also pass an affordability test.
There will also be the opportunity of purchasing additional shares up to 100% of the property over time.