Right-To-Buy Extension Will Run At a Loss in Most of the Country

The extension of right to buy to include housing association tenants is proving to be deceptively complicated. Housing association tenants will have the right to buy their rented properties from housing associations with a significant government discount, however, unlike the original right-to-buy policy, the housing associations who own the homes will have to be compensated for those that are sold.  The right to buy will supposedly be financed by councils selling their most expensive council homes when they become vacant. The money raised will be used to replace the homes sold and to compensate housing associations for the properties they lose. Research by Savills shows that ministers have seriously overestimated the amount that would be raised through sales of council houses.  Read more on the Guardian website.