In 2015, the National Housing Federation, on behalf of its members, put forward a proposal to the government to deliver its commitment to extend Right to Buy to housing association tenants by way of voluntary agreement rather than legislation.
This agreement is based on four key principles:
- Discounts for tenants. Housing association tenants would have the right to purchase a home at Right to Buy level discounts.
- Control over which homes to sell. Housing associations will have the final decision about whether to sell an individual property, with the presumption that they will sell a tenant their current home where they can.
- Full compensation. Housing associations will get the full market value of the properties sold, with the value of the discount funded by the government.
- Flexible one-for-one replacement. Nationally, for every home sold under the agreement, a new affordable property would be built, thereby increasing overall supply. The type and location will be flexible to housing association needs.
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