An east London council has launched its own version of
right-to-buy in a bid to help those on low incomes have a stake in the property
market while holding onto much-needed social housing. The new right to invest
scheme launched by Barking and Dagenham council will let tenants buy a share in
their property using their right to buy discount. Tenants can buy between 25%
and 70% of their property, and will pay rent to the council on the remaining
share. If they want to sell, they will have to give the council first refusal
before they can offer their share on the open market, and the council will keep
its interest in the property. Read more on the Guardian website.
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