Council Tenants right to buy discounts set to increase
By Trucks79 | Sunday, March 11, 2012, 10:46
Ministers are due to announce this week plans that will allow council tenants in Thornbury and across the whole country the chance to purchase their homes with a discount of up to £75,000 off the market value.
It is understood that Housing Minister Grant Shapps will announce the new incentive as part of his effort to enhance the Right To Buy scheme that was originally launched by Margaret Thatcher back in the 80s.
The new deal means that a council tenant that has been in the property for five years will qualify for a 35% discount with an extra one per cent for each year after that.
Residents living in flats will receive a 50% discount after five years with an additional discount of 2% added each year after.
Monies raised from each sale will go towards the building of new council homes.
Thornbury council tenant Helen Serth said "I think this is a good chance for young families to get their feet on the housing ladder, without this type of incentive many people would not be able to buy their own home.
However the news has not been welcomed by everyone a local home owner who wished not to be named said "I don't see why these people should be given a large reduced rent for years and then given a whooping discount on top should they wish to buy it"
What do you think about the proposed plans? Do you support the large discounts that Ministers are due to announce later this week?
Or do you think that council tenants should have to pay the same price as everyone else when looking to move on to the housing ladder?
Share your thought and views with us.