Government to bring forward Right to Buy reforms

The government has confirmed it will bring forward further reforms to Right to Buy, the scheme which allows eligible council tenants in England to buy their home at a discount.

Last year the government published its consultation response to overhaul Right to Buy that will support councils to better protect and rebuild depleted housing stock while maintaining a responsible route into homeownership for longstanding tenants.  

The new reforms include Increasing the minimum eligibility period from three to ten years before tenants can apply to buy their home; and amending discount rules so that discounts start at 5% of the property value and increase by 1% each year up to the maximum discount of 15% of the property value or the cash cap (whichever is lower).

A new 35-year new build exemption period will be introduced so new social homes cannot be sold under Right to Buy for 35 years after they are built.

Gavin Smart, CEO, Chartered Institute of Housing: “CIH welcomes the government’s continued focus on reforming Right to Buy and the clear recognition that change is needed to better protect and rebuild our social housing. The measures confirmed today are a positive step towards addressing the long-standing imbalance between homes sold and those replaced.

“We also welcome the further work on fraud prevention and the scheme’s impact in rural areas, both of which are crucial to ensuring Right to Buy operates fairly and sustainably.”