Council tenants in Hammersmith & Fulham (H&F)
have become the first in the country to be able to buy their council home one
share at a time. Councillors in the borough have approved a plan that will
enable council tenants to buy a share in their home from as little as 15% and
pay rent on the remaining share. Then, as and when they can afford it, they
will be able to buy further shares until they eventually own it outright.
Called Right to Buy Part, the new scheme, which works like a traditional shared
ownership offer, has already received backing in the Mayor of London’s latest
housing strategy and been welcomed by the CLG. The council estimates that
households with incomes ranging from just under £19,000 to £37,000 will benefit
from the pioneering scheme. Read more on the H&F website.
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