The Government should build 75,000 homes a year aimed at
low paid workers, a think tank has argued. Renewal said the Rent to Buy model
should be scaled up and rents reduced to allow people to save for a
deposit. Living Rents would be set at no
more than one-third of the average low income in an area. Properties would have
a five to 10-year tenancy as a minimum to provide "security and stability,
while still encouraging mobility and efficiency in the use of stock. After two
years, tenants would have the option of buying their home at a discount similar
to those offered under Right to Buy. This would be facilitated through an extension
of Help to Buy-style equity loans. Read more on the Housing Excellence website.
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