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Right to Buy revival

Belinda Walkinshaw warns of the potential dangers of reviving Right to Buy legislation

9 June 2015

The Queen's Speech has indicated that legislation will be introduced by the government to support home ownership and give housing association tenants the chance to own their own home.

The original Right to Buy legislation introduced in the Housing Act 1980 became one of the key features of Thatcherism, allowing around 2.5 million council houses to be sold to tenants with discounts of between 33 and 50 per cent
on market value.

However, this proceeded on the basis that if the house was then sold on before the end of a minimum period, then part of the discount would have to be paid back to the local authority. This was obviously an attractive deal for tenants, with the purchase funds often being provided by relatives keen to invest in property and to take advantage of the substantial discounts available.

Trust or legal charge documentation was often ...

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