The Right to Buy for council tenants introduced in the 1980s allowed many people to own the homes they and their families had grown up in. Whether they stayed where they were, or used that asset to move to larger homes as their families grew, it was an opportunity that before they would have never received. But as many Councils started selling their properties to housing associations, many were again caught in the rent trap; unable to afford private rents, or to save enough for a deposit on a home of their own.
This is why I am pleased to share with you the news that our area has been included in the pilot scheme for extending the Right to Buy to Housing Association Tenants. Those living in housing association properties who meet the eligibility criteria have the chance to apply for the right to buy their home. Those who are successful will be offered a discount on their purchase, whether it is the home they currently reside in or another housing association property. The Government has earmarked £200m to make up the shortfall for Housing Associations, allowing them to source replacement properties and maintain their housing stocks for other needy tenants.
The Voluntary Right to Buy pilot is a wonderful example of cooperation between government and housing associations, and a great opportunity for housing association tenants who with a little help can own their own home. The application window closes at midnight on 16 September 2018, and you can determine whether you are eligible and find all further details at https://midlands.righttobuy.gov.uk/