The Government has announced a review of the Right to Buy including eligibility criteria and protections for new homes. A consultation on changes will be issued in the autumn. The increased Right to Buy discounts introduced in 2012 will also be reviewed and changes implemented via secondary legislation.
Increased flexibilities on how councils can use Right to Buy receipts have also been announced. The following changes will come into effect immediately and will apply for 2 years initially, subject to review:
- Removing the cap on the percentage of replacements homes that can be delivered as acquisitions.
- Removing the 50% cap on the level of RTB receipts that can be used to fund the cost of a replacement home.
- Allowing councils to combine Right to Buy receipts with section 106 contributions.
