Hammersmith and Fulham (HandF) Council has called for local authorities to be allowed to retain all receipts from sales under the new Right to Buy scheme to enable them to build more affordable homes. The Conservative-controlled council has been actively lobbying Government for a change in Right to Buy policy after seeing a slump in sales from 245 in 2003 to 2004 to just seven last year. This slump can be attributed to the fact that the Right to Buy discount was slashed from £38,000 to £16,000 in 2004. Currently, when a social housing tenant buys their property under Right to Buy the majority of the proceeds go to Central Government but HandF says this must change if the Government is going to get close to the 'one for one' aspiration it set out in the Housing Strategy. Read more on the HandF website.
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