Social Homes May Go Unbuilt Without Right To Buy Extension

Councils have demanded an extension to the time they have to spend money through Right to Buy sales before it returns to the government. The Local Government Association (LGA) warned that the coronavirus means much-needed new social housing could go unbuilt unless ministers grant the extension. Local authorities are only allowed to hold on to Right to Buy receipts for spending on replacement homes for three years until they have to give the cash back to the Treasury. But the LGA said many councils are worried they will not have time to spend the cash with housebuilding delayed by the COVID-19 pandemic and called for the deadline to be extended to at least five years. Read more on the LGA website.

https://www.local.gov.uk/coronavirus-social-homes-may-go-unbuilt-without-right-buy-extension