Mark Whitehead 01 July 2016

London council launches alternative to Right to Buy

London council launches alternative to Right to Buy image

An innovative scheme launched by an east London council will enable tenants to buy a stake in their home while ensuring the local authority retains its housing stock.

In what is thought to be a national first, Barking and Dagenham Council says its 'right to invest' plan will help tenants get onto the housing ladder in the face of the capital’s ‘ridiculously expensive’ property market.

It means tenants can purchase a stake of between 25% and 70% of their home, while also benefiting from their right to buy discount, and will pay rent to the council on the remaining share.

They will have to offer the council first refusal before they sell their share on the open market.

More than two million council homes have been sold since right to buy was introduced in the early 1980s, allowing tenants to buy the property they were renting.

The government relaunched the policy in 2012, increasing the discount and extending it to housing association tenants.

Barking and Dagenham council leader Darren Rodwell said: 'London’s ridiculously expensive property market has meant the idea of home ownership for most ordinary people is just a pipedream.

'Barking and Dagenham has the lowest level of owner-occupation in London, so it is important that we help those on low incomes to get a foot on the housing ladder.

'This will also help create a stable community where no-one is left behind.'

Meeting new planning requirements for trees image

Meeting new planning requirements for trees

Concrete block permeable paving offers an important opportunity to help satisfy the requirement for extensive tree planting and retention of existing trees in developments. Chris Hodson reports.
SIGN UP
For your free daily news bulletin
Highways jobs

Senior Accountant x2

Islington London Borough Council
£39,462 - £45,594 per annum
There are two roles currently being advertised, one working with our Resources finance team, and one with our Housing and Public Health finance team. Islington, London (Greater)
Recuriter: Islington London Borough Council

Programme Director – Fisheries

Falkland Islands Government
£50,771 up to £56,292
The Programme Director – Fisheries will support the Director of Natural Resources Falkland Islands (FK)
Recuriter: Falkland Islands Government

Principal Engineer/Team Leader Street Works

Bath & North East Somerset Council
£39,880 - £42,821 pa
The Council’s Street Works Team is responsible for managing all aspects of road works and events that take place on our highway network. Keynsham, Bristol
Recuriter: Bath & North East Somerset Council

Social Worker / Advanced Practitioner – Children & Families Service

North Yorkshire County Council
£30,451 - £39,880 per annum pro rata + relocation support
North Yorkshire County Council have a national reputation for excellence. Skipton, North Yorkshire
Recuriter: North Yorkshire County Council

Senior Technician - Asset Management - Highways & Flood Risk

West Berkshire Council
£23,541 to £29,577 per annum (Grade G)
We are currently looking to recruit to two exciting opportunities who will join us and play a role in improving West Berkshire’s highways. Newbury, Berkshire
Recuriter: West Berkshire Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue