Government delays Right to Buy extension until 2018
Created on Monday, November 28th, 2016
by Kathryn Shaw
Housing minister Gavin Barwell has confirmed that the roll-out of voluntary right to buy (VRtB) will not now take place until after April 2018 at the earliest.
Earlier this year it was announced that the Government would be extending Right to Buy to eligible housing associations tenants, who would be able to purchase the home that they live in for a discounted price.
An initial pilot featuring five housing associations was launched which, according to the National Housing Federation, would “give a clearer picture of demand and help ensure a smooth experience for tenants once the scheme is rolled out more widely”.
This pilot officially ended in October this year; however, during the Autumn Statement it was announced by Chancellor Philip Hammond that there would be another pilot. This one will be regional and will last for at least five years.
On top of that, it’s been confirmed by the Department for Communities and Local Government (DCLG) that VRtB will be delayed until at least 2018, as the Government will not be requiring local councils to help fund the scheme until after that time.
Derwent Living will continue to take the details of any residents who are interested in purchasing their home through Right to Buy and will get in touch when more detailed, official guidelines are released. If you have any questions about voluntary right to buy, please call us on 01332 346 477 or email email@example.com.