David Cameron says an increase in the discount available to tenants buying council homes will restore "a vital rung on the property ladder".Read the full story ›
Who can apply for the Right to Buy scheme and how will it work?Read the full story ›
Housing minister Grant Shapps is encouraging people to 'like' the Government's right-to-buy Facebook page.
Council tenants or those living in a council home when it was sold to another landlord, may be able to get a discount of up to £75,000 to buy their home, under new Government plans.
Critics of the Government's planned re-launch of the right-to-buy scheme, say it could cause a reduction in the number of affordable homes to rent.
But Housing Minister Grant Shapps insisted this was not the case and told the Daily Telegraph the money raised from the scheme would pay for affordable homes to be built.
He added: "This Government is unashamedly on the side of hardworking families who want to aspire to owning their own council homes. We are also determined to slash the council housing waiting list which doubled under Labour.
“That is why the announcement that the discounts are quadrupling in London and tripling throughout the country will be welcomed by hard pressed families everywhere."
David Cameron says introducing a dramatic increase in the discount available to tenants buying their council homes will restore "a vital rung on the property ladder".
The Prime Minister hopes giving up to £75,000 off the price of a property will reinvigorate the right-to-buy scheme introduced by Margaret Thatcher in the 1980s and encourage the creation of "stable mixed communities".
In the 80s, Right to Buy helped millions of people living in council housing achieve their aspiration of owning their own home.
It gave something back to families who worked hard, paid their rent and played by the rules. It allowed them to do up their home, change their front door, improve their garden - without getting permission from the council.
It gave people a sense of pride and ownership not just in their home, but in their street and neighbourhood, helping to build strong families and stable mixed communities.
Sales of council homes have tailed off significantly after discounts were cut in the 1990s and not adjusted to properly reflect fast-rising house prices with only 3,690 completed in 2010/11.
Under the revised allowances, tenants who have five years' residency in their council home could receive a 35% discount, with an extra 1% for each added year up to a maximum of £75,000.
Tenants in flats will get 50% off after five years, with 2% added yearly.
A new right-to-buy scheme is being launched by the Prime Minister today.
David Cameron hopes discounts of up to £75,000 off council homes will reinvigorate the right-to-buy scheme introduced by Margaret Thatcher in the 1980s and encourage the creation of "stable mixed communities".