Right to Buy boosted by £100m fund to improve access to finance

A £100 million fund aims to improve access to mortgage finance, and new Right to Buy agents will guide people through the buying process. Revenue from additional sales will be ploughed back into delivering new affordable homes for rent. The maximum cash cap was increased in April 2012 to £75,000. For London, it was increased in March 2013 to £100,000. The caps will be increased annually in line with the consumer price index rate of inflation.

The government has already delivered over 170,000 affordable homes over the past 3 and a half years, with around £23 billion public and private investment planned between 2015 and 2018. Eric Pickles said: “We’ll also continue to plough the cash from additional sales back into delivering new affordable homes for rent, which will help drive up the rate of housebuilding across the country.”