Right to Buy

13 Mar 2012

Under the Right to Buy from April 2012 tenants of social housing could benefit from a discount of up to £75,000.  For more information on this go to our article under 'Your Rights' called Right to Buy in the ADVICE section of this site.

The Fed is holding a debate on 22nd June 2012 in the Council Chamber of the Civic Centre entitled 'To buy or not to buy' that will explore the pros and cons of the Right to Buy scheme.  We will be sending out flyers about this a few weeks beforehand. 

The Government has also unveiled the New Buy Scheme.  Basically 3 leading high street lenders and seven building firms are offering mortgages on newly built properties to people with just a 5% deposit.

The Government and housebuilders will help provide security for the loan so if a house is then sold for less than the outstanding mortgage the lender will be able to recover their loss.  The Government expects the scheme will reinvigorate the housing market and boost construction and related industries.

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