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| 04/04/2012 |
Reinvigorated Right To Buy Scheme Launched |
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From April this year two million social tenants could benefit from a discount of up to £75,000 with Right to Buy scheme.
The Government has today launched the reinvigorated Right to Buy, with a new discount of up to £75,000.
Since 1980, two million social homes have been bought by their occupants under the scheme, but numbers have gradually fallen – to fewer than 4,000 sales last year – as discounts have declined, making the scheme virtually meaningless in some parts of the country.
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"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. But over time the discounts were cut, they didn’t keep pace with rises in property prices, and this vital rung on the property ladder was all but removed.
"This Government is now putting it back by dramatically increasing the discount rates so that we support the dreams of those council tenants who to want to own the roof over their head."
(GK) |
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