Tuesday, 20 August 2013

Right to Buy and Pay to Stay Update

This year's Budget statement included a proposal to reduce the qualifying period for the Right to Buy from 5 to 3 years. This will require an amendment to primary legislation, which has been included in a draft Deregulation Bill published last month. The Bill committee has issued a call for evidence with a deadline for responses of 16 September.  The Government's summary of consultation responses and announcement of next steps on Pay to Stay makes it clear that it has not yet found Parliamentary time to introduce a requirement on high-earning tenants to declare their income, which is generally regarded as the essential underpinning for Pay to Stay schemes where social landlords wish to introduce them.  Read more on the Association of Retained Council Housing (ARCH) website.

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