The Right to Buy Scheme is designed to help tenants living in local authority properties get on the property ladder. It allows people who have been tenants in a council property in England and Wales for at least 5 years to purchase the home they rent at a discount.
The scheme has proved extremely popular to date, with figures showing that around 1.6 million social tenants in England and Wales have used it to purchase their council home.
Over the years, the Right to Buy Scheme has been extended to give more people the chance to become homeowners. This has had a positive effect on the wider community as the scheme encourages council tenants to stay in the area and take pride in their property and its immediate surroundings, resulting in council estates becoming much more stable.
|Labour will scrap Right to Buy if elected - Wed, 28 Sep 2016|
|Right to Buy scheme may be coming to an end in Wales - Tue, 20 Sep 2016|
|Mortgage lending increases in May - Thu, 27 Jun 2013|