Magazine article Public Finance

RSLs Agree to Support HomeBuy

Magazine article Public Finance

RSLs Agree to Support HomeBuy

Article excerpt

Housing associations have withdrawn their objections to a government scheme for extending home ownership after ministers gave them guarantees over rent income and protection for tenants.

Two months ago, the National Housing Federation warned that Social HomeBuy, under which tenants will buy shares in their homes, could threaten the financial viability of registered social landlords.

But when details of the scheme were unveiled by the Office of the Deputy Prime Minister on August 11, the federation said it was fully behind it and was confident that thousands would snap up the opportunity to own their home.

Associations will now be able to charge rent on the full amount of unsold equity in a property while tenants will be allowed to purchase as little as 25% of their home. …

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