Pay to Stay Will Make Homes ‘Unaffordable’

Tens of thousands of social tenants across southern England affected by Pay to Stay would struggle to afford to carry on living in their home if forced to pay full market rent, according to exclusive research. Consultancy Savills has calculated the potential impact of the policy, under which tenants earning over £40,000 in London and £30,000 outside the capital will have to pay rents at up to market rent level. The consultancy estimates 60.1% of the 27,108 affected households in London will neither be able to afford market rent or be able to buy their house under the Right to Buy. In the East, South East and South West regions of England the figure is 49.1%, 43.4% and 26.6% respectively. Read more on Inside Housing.