This paper summarises thegovernment’s 2012 reforms of the right to buy initiative in England.
The Right to Buy scheme wasintroduced in 1980 and gives qualifying social tenants the right to buy theirhome at a discount. The scheme is open to secure tenants of local authoritiesand non-charitable housing associations, and to those assured tenants ofhousing associations whose homes have transferred from a local authority aspart of a housing stock transfer.
In “Laying the Foundations: AHousing Strategy for England’, the Government announced its intention toincrease the caps on Right to Buy discounts to enable more tenants to achievetheir ambition for home ownership. It also set out the Government's commitmentto ensure that the receipts on every additional home sold under the Right toBuy are used to fund its replacement, on a one for one basis, with a new homefor Affordable Rent. In December 2011, the Department for Communities and LocalGovernment published a consultation setting out proposals for how this would beachieved and seeking views.
The Keypoints are:
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