The Government has launched a £200m pilot scheme to boost social home ownership.
The Midlands Voluntary Right to Buy Pilot, announced by communities secretary James Brokenshire, is billed as a first step in helping housing association tenants get a foot on the property ladder.
The pilot scheme comes on the back of the social housing green paper which aims to provide social housing residents with a 'springboard' into home ownership by allowing them to purchase as little as 1% of their property each year.
Council leaders criticised the green paper arguing it failed to give councils the powers and freedoms needed to deliver more affordable housing.
Places on the new Voluntary Right to Buy Pilot will be allocated via a ballot to ensure fairness for applicants and the money from sales will be used to fund replacement homes.
'This government is committed to providing opportunities for people to get a foot on the property ladder and to have a place they can call their own,’ said Mr Brokenshire.
‘Our £200m investment into the Midlands Voluntary Right to Buy Pilot is the first step in helping housing association tenants realise their dream of home ownership.’
Chief executive of the National Housing Federation David Orr commented: ‘We are looking forward to working with tenants, with housing associations and with the Government to make this pilot a resounding success.
‘This scheme must empower social housing tenants and meet our own ambitions to deliver the homes the country needs.’
