An east London housing association has told more than 150
tenants to buy a share of their home or leave, as it moves to rationalise its
stock. East Thames has come under political pressure over its decision to
convert its Intermediate Market Rent (IMR) and Rent Now Buy Later (RNBL) stock
to shared ownership. The 15,000-home landlord said it has decided to
“streamline” its stock – moving to only affordable and social rent and shared
ownership, cross-subsidised through private sale. It said this is necessary to
cut costs as a result of the 1% rent cut. It will convert IMR and RNBL homes to
shared ownership, offering residents a chance to buy a share. Read more on
Inside Housing.
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