Let’s hope that before opting to buy their homes under the government’s “social homebuy” policy (14 January, page 7), tenants realise the implications: 25% of sale proceeds back to the landlord and freehold retained with service charges!

While one can expect tenants to jump at the possibility of owning their own homes, the strings are far from happy ones. The landlords are also likely to be far from happy, as the scheme will almost certainly reduce the social housing stock.

Granted, the current schemes have advantages with discounts dependent on length of tenure history. But how the potential sale of one million rented houses in the country will help tackle housing problems is unclear.

Cynically speaking, perhaps it will provide a few more votes.

Stan Clare via the Housing Today website

Source

Housing Today