This paper summarises the government’s 2012 reforms of the right to buy initiative in England.
The Right to Buy scheme was introduced in 1980 and gives qualifying social tenants the right to buy their home at a discount. The scheme is open to secure tenants of local authorities and non-charitable housing associations, and to those assured tenants of housing associations whose homes have transferred from a local authority as part of a housing stock transfer.
In “Laying the Foundations: A Housing Strategy for England’, the Government announced its intention to increase the caps on Right to Buy discounts to enable more tenants to achieve their ambition for home ownership. It also set out the Government's commitment to ensure that the receipts on every additional home sold under the Right to Buy are used to fund its replacement, on a one for one basis, with a new home for Affordable Rent. In December 2011, the Department for Communities and Local Government published a consultation setting out proposals for how this would be achieved and seeking views.
The Key points are: