Changes to the way councils spend Right to Buy money on new homes

Housing Secretary Robert Jenrick has announced changes to the way councils use Right to Buy funds, giving them more freedom to build the types of homes needed in their communities. Taking effective from 1 April 2021, this will include shared ownership, First Homes (first-time buyers) and housing at affordable and social rent. The programme also allows councils more time to develop larger building programmes in their area. Local Government Association Chairman Councillor James Jamieson said "...Extending the time limit for spending Right to Buy receipts and increasing the proportion of a new home that councils can fund using receipts will boost councils’ ability to build desperately-needed affordable housing for local communities….”. 

Read the announcement here.