A government fund offering a cash alternative to tenants
eligible for the Right to Buy has had limited take-up despite councils’ efforts
to promote it. The Right to Buy Social Mobility Fund was announced by George
Osborne in a major speech a year ago and aimed to help council tenants eligible
for the Right to Buy to buy an alternative home on the open market if they
needed or wanted to. It was targeted at helping people whose current home was
not suitable to their needs, or whose home was difficult to mortgage, as well
as people needing to move for work or family reasons. The fund offered a cash
payment of £20,000 across England and £30,000 in London. However, there has
been limited take-up of the fund, which is being axed a year early at the end
of March. Read more on Inside Housing.
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