Response - Clarifying the Right to Buy Rules

By: Catherine Grannum  Published: November 2007


This consultation proposes to change the way in which mortgage lenders are approved for Right to Buy business. Shelter believes this change may cause hardship in operation.

Summary

Shelter continues to hold a number of concerns about the Right to Buy.  The Housing Act 2004 introduced some welcome reforms to the Right to Buy, extending the Qualifying and Discount Repayment periods (during which a proportion of the discount must be repaid if the property is sold on).  These have helped limit the exploitation of the Right to Buy by property companies.  However, we believe that further consideration of the Right to Buy is still justified and needs to go further than the minor amendments proposed under this consultation paper. 

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