Landlords Cash In On Right-To-Buy – And Send Rents Soaring For Poorest Tenants

Private landlords have bought up half of the former council homes in some of London's poorest boroughs by exploiting Margaret Thatcher's celebrated right-to-buy scheme, an analysis reveals. Across the capital at least 36% - equivalent to 52,000 - one-time council homes are now rented out privately but that proportion is even higher in some of the poorest areas where average private-sector rents, often paid by tenants on housing benefit, cost as much as £230 a week more than council rents. A report to be published tomorrow claims that the right to buy scheme, highlighted by David Cameron as one of the greatest Thatcher successes at last year's Tory party conference, is "possibly unrivalled" in providing poor value for money to both taxpayers and local authorities. Read more on the Observer website.