It has now launched a £200m Voluntary Right to Buy Pilot for housing association tenants in the midlands.Tenants can register online, and places will be allocated through a ballot that closes on September 16, with the pilot running until spring 2020. The Government will fully fund the Right to Buy discounts – which will be at the same level that council tenants receive – and housing associations will have to use the receipts from the sales to fund replacement homes.
James Brokenshire, Housing Secretary, said: “This Government is committed to providing opportunities for people to get a foot on the property ladder and to have a place they can call their own. Our £200m investment into the Midlands Voluntary Right to Buy Pilot is the first step in helping housing association tenants realise their dream of home ownership.”
David Orr, chief executive of the National Housing Federation, said: “Over the past three years we have worked closely with the government on its proposal to extend the Right to Buy to housing association tenants. Of course, this pilot is not the finished product. We want to take the time to get this major endeavour right. “It will be a success for everyone involved only if every home that is sold is replaced with a new affordable home, and if the application process is as smooth as possible for tenants.”