Right to Buy scheme set to be extended after the government secures historic agreement

On the 7th October, David Cameron announced an historic new agreement with housing associations and the National Housing Federation that is set to extend the Right to Buy Scheme to 1.3 million more families.

The Prime Minister explains:

“Some people said this would be impossible and that housing associations would never stand for it. Today we have secured a deal with housing associations to give their tenants the Right to Buy their home…That will mean the first tenants can start to buy their homes from next year.”

The Right to Buy is a scheme that allows families in social properties to become homeowners, and has already helped around 2 million families realise their dreams since its introduction under Thatcher.

By recycling the funds raised by selling off the properties towards replacement affordable properties, this agreement sets out to not only increase home ownership but also help those who need a new affordable house, thus increasing overall housing supply.

Communities Secretary, Greg Clarke says:

“We’re determined to ensure that home ownership is seen as a reasonable aspiration for working people…Today’s historic agreement with housing associations and the National Housing Federation will extend that offer even more widely, while at the same time delivering thousands of new affordable homes across the country”

Under the new agreement, every housing association tenant would have the right to purchase a home at Right to Buy level discounts (subject to the Right to Buy eligibility requirements). It is assumed that housing associations would sell the tenant the property in which they currently live.

Compensation would then be paid to the Housing Association by the government to reflect the discount that was offered to the tenant. The sales receipt would be kept by the housing association so that they can reinvest towards the delivery of new homes.

Housing associations would use sales proceeds to deliver new supply and would have flexibility to replace rented homes with other tenures such as shared ownership.

Chief Executive of the National Housing Federation, David Orr said of the agreement:

“This is a great offer for housing association tenants. It is also a great offer for the country, as our proposal means homes sold will be replaced, delivering an overall increase in housing supply.

“This is an ambitious sector that last year built more than one in three of the country’s homes, matching each pound of taxpayers’ money with £6 of its own. We will build more.”

The Right to Buy is just one part of the Government’s wider programme to increase overall home ownership, with other schemes including the Help to Buy, Starter Homes, Right to Build and planning reforms to get more homes built on brownfield land.

It certainly seems as if there are enough schemes in place to address the mounting problems of home ownership and housing supply, but the question remains – how effective are they? Are they papering over the cracks, or providing a viable solution?

BT www.propertysurveying.co.uk 09.10.15

Looking for a Property Surveyor in Cheam?

Building and Property Surveyors Cheam

Do you need a local independent Chartered Surveyor in Cheam or the surrounding area? We can assist, including being able to provide a structural survey, major defects report, single fault assessment, rebuilding / reinstatement valuation, building survey, property valuation, homebuyers report, property acquisition advice, or other property assistance.

Chris Hunt MRICS
Chartered Surveyor

0203 390 3203
or Freephone on 0800 880 6024

chris_hunt“My surveying experience extends from a solid core of survey reports, like the HomeBuyers Survey and the House Purchase Survey, to a wide range of residential and commercial expert surveys, valuations and reports. I can highlight any and all issues and defects at your potential property purchase or your current home, making sure you have all the information you need to proceed.

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Looking for a surveyor in Newbury?

Surveyed Buildings
These are actual buildings inspected by McCall & Co, chartered surveyors of the propertysurveying network.

Pre-purchase (or pre-lease) Residential Property Surveys by McCall & Co Chartered Surveyors with experience of Period, Individual and Character houses and cottages, including with thatch and/or timber-framed walls, and/or cob walls. Personal service for discerning buyers covering the Newbury area, Berkshire.

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Are you buying a commercial property in Dewsbury?

Property and Building Surveyors Dewsbury

01138 500 501
or Freephone on 0800 880 6024

west-yorkshire-101401_640Are you buying a new house or commercial property? Our Director will deal with you directly, giving free, impartial advice on choosing a survey. We quote flat fees, so time you need to discuss the building, structure and defects after the report is free. There are no hidden costs.

We are a local practice of Chartered Surveyors covering Dewsbury, Cullingworth, Denholme, Haworth, Wilsden and the surrounding Dewsbury area, helping clients with both residential survey and commercial property issues.

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Policy Exchange want new ‘Garden Village’ powers for Councils

garden-villageIn a paper by think-tank ‘Policy Exchange’, a new policy of devolved power to local authorities has been put forward, which would enable them to create ‘garden villages’ of between 1,500 and 5,000 homes…
To read the whole article, click here.

Are you searching for a Property Surveyor in Torquay?

www.torquaysurveyors.co.uk

Building and Property Surveyor Torquay

Are you buying a new house or commercial property? Do you need a building survey, structural survey, single fault assessment, rebuilding / reinstatement valuation, homebuyers report, party wall or property advice from a Chartered Building Surveyor in Torquay or the surrounding South Devon area?

“All buildings, properties and houses have defects. Instructing us to undertake a Full Building Survey, House Purchase Survey Report or Homebuyer (Home Buyer) Survey will give you or your vendor peace of mind.” – Lee Gallon MRICS

rainbow-1909_640

Please telephone Lee Gallon MRICS and the team to discuss your building survey or other property requirements. We are a chartered surveyors practice covering Torquay, Babbacombe, Marldon and the surrounding area, helping clients with both residential survey and commercial property issues.

01803 423 803
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Could the invasion of the Super Rat threaten your home?

ratHardly a week goes by without rats featuring in the news – restaurants being closed down, infested homes being evacuated etc. Recent weeks have been no exception and so called ‘Super Rats’ are now plaguing towns across the UK. Could your house be next?
To read the whole article, click here.

Do you live in Pembroke and are not sure whether you need a Party Wall Survey?

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What is Party Wall Work?

Keith_Batten

The Party Wall etc. Act 1996 introduced a procedure for resolving disputes between owners of neighbouring properties, arising as a result of one owner’s intention to carry out works which would affect the party wall, involve the construction of a party wall or boundary wall at (or adjacent to) the line of junction between the two properties or excavation within certain distances of a neighbour’s structure and to a lower depth than its foundations.

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029 2193 2193
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They might be straw, but you can’t blow them down. Is the future of construction in straw?

It may sound like a return to the dark ages, but using straw as a construction material is a genuine technique which has now expanded beyond the realms of ‘Grand Designs’ and self-builds, and into the commercial market. We look at seven new homes in Bristol, within a project which seeks to change the way we think about building houses…
To read the whole article, click here.

Deeds, not words, prove man’s worth

The bell of the Victoria Hall in Ash, Surrey has chimed merrily for over a 100 years. Each quarter of an hour, the bell rings out and on the hour, every hour, its peels can be heard across the village. Health and Safety knows no bounds in the modern world, however, and one new resident can have a substantial impact…
To read the whole article, click here.