Councils Told To Fight For Stock Transfer Pot

Councils or tenant groups that want to take advantage of the government’s stock transfer programme may have to ‘fight’ for a share of the limited debt write-off budget. The CLG will provide a £400 million pot to clear any outstanding debt on the housing revenue account after the stock is sold. Salford, Durham and Gloucester councils hope to use the budget, which is only available until March 2015. Lewisham Council is also considering a move. Read more on Inside Housing.

Council in Talks to Transfer Homes

Durham Council is in talks to hand over ownership of its 19,000 homes to a housing association in one of the largest stock transfers for several years. The north east council’s cabinet rubber stamped a recommendation to explore transfer options available to the authority in more detail. Tenants have been consulted on options for the stock but have not been balloted yet. The council aims to submit a business case setting out the benefits of stock transfer to the HCA by the end of 2012. Currently, two arm’s-length management organisations, East Durham Homes and Dale and Valley Homes, look after 13,000 homes between them. They would be wound up following a transfer. The remaining 6,100 homes are managed by the council’s in-house management organisation Durham City Homes. If the transfer is approved, Durham Council will be the seventh local authority to transfer ALMO stock to a housing association since ALMOs were formed in 2002. Read more on the Durham Council website.