Right-To-Buy homes could be bought back by Redbridge council

Redbridge council considers buying up properties

Redbridge council considers buying up properties

First published in News
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East London and West Essex Guardian Series: Photograph of the Author by , Reporter - Wanstead & Woodford

Homes purchased under the controversial Right-to-Buy scheme could be bought back on the open market by the council after funding was approved last night.

There are currently 14,359 people on the council housing waiting list in Redbridge, with 6,790 classified as high priority.

Under the scheme, former Right-To-Buy homes, abandoned properties and those available on the open market could be purchased.

The Labour leadership acknowledge that the allocation of £2.15million for nine properties is a small step to addressing the problem.

But Cllr Muhammed Javed, cabinet member for housing, hinted at similar schemes to come.

Cllr Muhammed Javed, Cabinet member for housing, said: “This is a small but very important project, with hopefully many more to come.

“It’s important because it means local homes for local people and addition in our stock.

"It also means savings for the council tax payers too, when less homeless families are placed in expensive temporary accommodation.”

“I was gobsmacked that the conservatives didn’t fight it more.

"They should question themselves as they’ve been in power for the eight years since 2002 and let it get to this level.”

The project was approved at Redbridge Town Hall by the council’s neighbourhood and communities’ service committee last night.

A total of £1.9million will be provided by the Greater London Authority.

The Right-To-Buy scheme, which enabled council tenants to purchase their homes at discount rates, is often blamed for a shortage in homes for the vulnerable people.

Comments (1)

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3:30pm Thu 17 Jul 14

ChazFinch says...

So the council buys back the houses probably spends a bit on doing them up,Houses a family at a reasonable rent who then in 5 years will be eligible to buy this property at a 35% discount once again taking the property out of the council stock.
What happens then? The council buy it back again at full market price?
So the council buys back the houses probably spends a bit on doing them up,Houses a family at a reasonable rent who then in 5 years will be eligible to buy this property at a 35% discount once again taking the property out of the council stock. What happens then? The council buy it back again at full market price? ChazFinch
  • Score: 5

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