A Conservative-run council is calling for right to buy income to be used to support first-time buyers. Wandsworth said it wanted to use the revenue to support first-time buyers as well as building new homes. Mr Cameron has said he expects a new home to be built for every one sold, and housing minister Grant Shapps has pledged that the policy will not result in a net decrease in affordable housing. Wandsworth is planning to set up a ‘deposit pool’ that would offer first-time buyers an interest free five-year loan of up to £50,000 to buy a property. The pool would be funded through right-to-buy income and private developers, with the loans returned to the pool once properties are sold. Read more on Inside Housing.
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