News - Housing
Social HomeBuy pilot reaches 78 housing associations
Seventy-eight housing associations from around the country have been chosen to pilot the Social HomeBuy scheme, the Housing Corporation has announced.
The associations will offer approximately 2,000 social tenants the opportunity to purchase their current home, with shared-ownership options and discounts. Ideal candidates for the pilot are those who do not qualify for the Right to Buy or Right to Acquire initiatives.
"Nearly 80 housing associations are now piloting Social HomeBuy, offering a substantial opportunity for the sector to test out how best to open up this opportunity to meet the aspirations of social tenants," said Housing Corporation director Richard Hill.
"This scheme provides an important contribution to meeting the Hills recommendation on widening the opportunities for those in social housing," he added.
Four housing associations successfully bid for the initial Social HomeBuy pilot in October 2005, before another 37 joined in June 2006.
Discounts offered by the scheme range from £9,000 to £16,000 depending on location, though the concession will be repayable if the property is sold within five years.
The Housing Corporation is due to merge with English Partnerships and elements of Communities and Local Government to form a new national housing agency known as Communities England.














