120 councils sign revamped Right to Buy

Aaron Morby 12 years ago

Up to 120 English councils have signed the revamped Right to Buy scheme allowing them to invest council house sales proceeds into building new homes.

Housing Minister Grant Shapps confirmed today that 120 of the 167 councils that retain housing stock have signed up to the one-for-one deal.

The revamped Right to Buy is aimed at 2.5m council tenants and offers discounts of up to £75,000 to encourage them to become home owners.

This triples the discount in many parts of the country, and quadruples it in London.

Councils that have signed up will now be free decide on the type and size of home they build or hook up with housing associations to deliver new homes.

The Government hopes the scheme will stimulate council house building across the country.

The remaining 47 councils must pass receipts into a central pot, where council can bid for funds to build affordable homes.

Those who sign up by September will be able to keep receipts from July sales onward.

He said: “The reinvigorated Right to Buy has given hope back to thousands of aspiring council tenants who want to own their home – and for the first time, every extra home sold will be replaced on a one for one basis.

“So I’m pleased that 120 councils have seized this prime opportunity to refresh their housing stock by signing up to keep the cash from sales in their area.

“Not only will they be able to hand the keys to home ownership to their existing tenants, they will also be able to help families who for too long have been left languishing on their waiting lists.”

Councils gearing up to build homes from receipts

Adur Gravesham Redditch
Arun Great Yarmouth Rotherham
Ashfield Greenwich Runnymede
Babergh Guildford Salford
Barking and Dagenham Hammersmith and Fulham Sheffield
Barrow Harrogate Shepway
Basildon Havering Shropshire
Bassetlaw High Peak Slough
Birmingham Hounslow Solihull
Bolsover Ipswich South Cambridgeshire
Bournemouth Kensington and Chelsea South Derbyshire
Brentwood Kingston-upon-Hull South Holland
Brighton and Hove Leeds South Kesteven
Bristol Leicester Southampton
Broxtowe Lewes Southend
Bury Lewisham Southwark
Cambridge London St Albans
Camden Luton Stevenage
Cannock Chase Manchester Stroud
Canterbury Melton Sutton
Castle Point Mid Devon Swindon
Cheltenham Mid Suffolk Tandridge
Corby Milton Keynes Taunton Deane
Cornwall New Forest Tendring
Crawley Newcastle-upon-Tyne Uttlesford
Croydon Newham Waltham Forest
Dacorum North East Derbyshire Wandsworth
Derby North Kesteven Warwick
Doncaster North Tyneside Waveney
Dover North Warwickshire Waverley
Dudley North West Leicestershire Wealden
Durham County Northampton West Lancashire
Ealing Northumberland Westminster
East Devon Norwich Wigan
East Riding Nottingham Wiltshire
Eastbourne Oadby and Wigston Winchester
Enfield Oxford Woking
Epping Forest Poole Wokingham
Exeter Portsmouth Wolverhampton
Fareham Redbridge York

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