George Osborne has announced an £84m pot to offer social
tenants up to £30,000 to buy a new home on the open market. The policy will
allow tenants who would have qualified for the Right to Buy to leave their
social home and buy a new property. Dubbed the Social Mobility Fund, it will be
offered to tenants across England from April.
Local authorities will bid for a share of the cash, which they can then
offer to tenants. The deadline for bids is 18 March. The maximum discount
available will be £20,000 across England and £30,000 in London, which is
substantially lower than the £70,000 and £100,000 respectively offered under
the Right to Buy. Download the prospectus from the CLG website.
No comments:
Post a Comment