Right to Buy Scheme

(asked on 19th June 2014) - View Source

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Communities and Local Government, what changes have been made to the Preserved Right to Buy since May 2010; and what consultation processes have accompanied such changes.


Answered by
 Portrait
Kris Hopkins
This question was answered on 24th June 2014

Helping people to achieve their home ownership aspirations is a central part of the Government's housing strategy. This is why the Government reinvigorated the Right to Buy and, by extension, the Preserved Right to Buy, increasing the maximum cash caps to £75,000 in April 2012. At the same time, the Government committed to keeping the discounts under review to ensure they remain effective.

To reflect the unique nature of the housing market in London, the maximum cash cap for London was increased to £100,000 in March 2013. As part of keeping the discounts under review, the Government is currently legislating to increase annually the maximum cash cap by the Consumer Price Index, and to bring the maximum percentage discount available for houses up, from 60 per cent to 70 per cent, to the same level as that available for flats. We are also legislating, via the Deregulation Bill, to decrease the qualifying eligibility period from five years to three years, bringing it in line with the policy's original intentions.

My Department consulted widely on changes to the Right to Buy prior to the reinvigoration of the scheme in April 2012. We have held roundtable meetings with key partners, such as the National Housing Federation, the Local Government Association and individual local authorities, on the further changes outlined above.

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