Thursday, 24 November 2016

Second Borough Launches Right To Part Buy

Conservative-controlled Wandsworth Council is set to give its secure tenants the opportunity to buy a share in the equity of their home. If approved by the council’s executive committee on 28 November, tenants will be able to buy a minimum of 25% of their home from next year and pay rent on the remaining equity. The discount is calculated as a percentage of the full £103,900 Right to Buy discount, meaning the minimum discount would be £25,975. Tenants will be able to buy more equity, 10% at a time, up to the full cost of the property. The scheme mirrors the ‘Right to Part-Buy’ implemented by Labour-controlled Barking & Dagenham in June this year, under which tenants can buy between 25% and 70% of their property. Read more on Wandsworth Council website.

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