Thursday 25 October 2018

Flexible Right To Buy


Many in council accommodation are there due to current prices in the UK’s cities. High prices mean, even with the current Right to Buy discount, that many mortgages are out of reach for those in these homes. Today we call for a reboot of Help to Buy: by making it flexible.
·         Social tenants eligible for the Right to Buy should be given a Flexible Right to Buy, entitling them to buy a new home, using the value of their Right to Buy discount.
·         The tenant’s previous home would then be sold, funding the discount and raising additional revenue.
·         A conservative estimate of the impact would see 21,000 tenants take advantage of the scheme with £2 billion of discounts on £9 billion of stock and net receipts of £7 billion.
Read more on the Adam Smith Institute website.

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