Home ownership 'revitalised by right to buy'

Posted: 23 Dec 2011 12:19:45 GMT

Grant Shapps is optimistic about the new right to buy drive.

A revitalisation of the right to buy initiative will make sure every property sold is replaced and could bolster the next generation of home ownership.

This is the suggestion of housing minister Grant Shapps, who has outlined new plans to increase the available discounts for the programme.

It is hoped this move will make purchasing property a simplified process for the millions of social tenants residing in social housing at present.

Mr Shapps - who is also the Conservative MP for Welwyn Hatfield - stated the proposals "will dramatically increase the discounts under right to buy, ensuring it once again becomes a meaningful tool to support social tenants who want to buy the home they live in".

He explained the government is also eager to see the number of affordable homes for rent maintained, noting every extra dwelling that is sold off will be replaced on a one-to-one basis for a new affordable abode.

© Houseladder Ltd