- government delivering on promise to extend Right to Buy to 1.3 million housing association tenants
- more than 5,000 housing association tenants come forward to register their interest in first month
Thousands of households across the country are signing up their interest for the Right to Buy, according to latest government figures.
Communities Secretary Greg Clark says this shows the huge interest in the initiative, which allows families in social housing the Right to Buy their property with more than 5,000 coming forward in the first month.
The government is delivering on its commitment to extend the Right to Buy to 1.3 million housing association tenants, giving them the same home ownership opportunities as council tenants, with every property sold replaced with an additional new affordable home.
Meanwhile, a new radio advertising campaign will be launched setting out how working people can open the door to home ownership through a range of government home-buying schemes.
Now the Department for Communities and Local Government has revealed that 5,200 housing association tenants have registered their interest in the Right to Buy online. It means nearly 170 people are signing up every day.
Communities Secretary Greg Clark said:
Social housing tenants share the same hopes and dreams as everyone else. They live in the same towns, their children go to the same schools, they have the same ambitions for themselves and their families.
They should be given the same opportunity, if they aspire to own their home. That is why we are extending Right to Buy to housing association tenants so they can have security of home ownership for themselves and their families.
Thousands of tenants are registering every week showing the level of interest for the dream of home ownership.
Housing Minister Brandon Lewis said:
We want as many people as possible to enjoy the security and stability of owning their own home. This one nation government will do everything it can to help people buy a place of their own.
There has already been huge interest in our Right to Buy extension, which forms part of our commitment to hard working people and transform Generation Rent into Generation Buy.
An historic agreement has been reached with the National Housing Federation to extend Right to Buy that will give 1.3 million families the chance to become homeowners as early as next year.
According to the British Social Attitudes Survey, 86% of people aspire to own their own home. And in a clear signal that the government is continuing to support all aspiring homeowners, the Help to Buy: ISA will be launched on 1 December, allowing first-time buyers to boost their savings by 25%.
The figures have been released as the government launches a new radio advertising campaign that will start with regional adverts promoting the Right to Buy.
This will be followed by a series of online videos including ‘how to’ programmes, giving simple tips to potential home buyers.
The national campaign for home ownership, launched last month, uses the creative approach of opening doors in both images and words with the strapline ‘open the door to owning your own home’.
It promotes the range of government schemes available including Help to Buy, Right to Buy and the new Help to Buy ISA available from 1 December.
The Help to Buy ISA will allow aspiring first-time buyers to boost their savings for a deposit on a house by 25% with the government putting in £50 for every £200 saved, up to a maximum of £3,000.
Anyone thinking about home ownership – and those who believe it is out of reach – can find out what government help they could get by answering a few simple questions at www.ownyourhome.gov.uk.
Through the advertising campaign, people will be able to use filters to find the affordable schemes that could be right for them. These include:
- Help to Buy: Equity Loan
- Help to Buy: ISA
- Help to Buy: Mortgage Guarantee
- Right to Buy and Preserved Right to Buy
- Starter Homes
- Right to Acquire
- Self Build Portal
- Shared ownership (part-rent/part-buy)
- HOLD – Home Ownership for People with Long-Term Disabilities
- OPSO – Older People’s Shared Ownership
- Discounted Sales
- Social HomeBuy
- Forces Help to Buy and Forces Help to Buy T4