Robert Halfon praises extension of Right to Buy scheme
Politics / Thu 16th Apr 2015 pm30 03:46pm
PRIME Minister David Cameron has announced the extension of the Right to Buy scheme to tenants of housing associations, if the Conservatives are returned to government on 7 May.
The scheme will give an extra 1.3 million tenants the chance to buy the home they are renting from housing associations. A £1 billion Brownfield Regeneration Fund will also be established to unlock land sufficient to build 400,000 new affordable homes.
Under the Right to Buy scheme, anyone who has rented their home from local authorities for 5 years can buy the property with a 35% discount on houses and 50% on flats. This discount increases with every extra year of tenancy. The 5 year requirement will be lowered to 3 years with the new Deregulation Bill.
A future Conservative government will now extend the scheme to the 1.3 million households renting their homes from private housing associations.
Robert Halfon, Conservative candidate for Harlow, said: “I have always been great supporter of Right to Buy and the extension of the scheme is wonderful news for many families in Harlow. This is a way to give back to all the families that have worked hard and strive to do the right thing. Since 2010 the number of Harlow people using this scheme to buy their home has increased by 514%. Now more of these families will now have the security of owning their home, getting on the housing ladder and aspire to even better things.”
Each house sold under the Right to Buy scheme will be replaced on a one for one basis.
Sadly if they are re elected you do question why any housing association will want to build any new homes if they are just going to be sold off,were the business sense. They might as well just sell the land to a developer,bad timing for Harlow with the YMCA being or was being developed by a housing association. Bad decision again for Harlow
This is brilliant news - i've a young family. i want to buy my home instead of paying rent to my HA so they can profit from it.
Housing association don't make profit.