Changes to Right to BuyPrint publication
On 26 May 2015 changes to the Housing Act 1985 made by the Deregulation Act 2015, will reduce the qualifying period for a secure tenant to exercise the right to buy their property in England from five to three years. This could have a significant effect on local authorities as a large number of additional tenants will immediately be eligible for the right to buy. The changes may also impact on housing associations which have taken stock from local authorities and who consequently have tenants with the preserved right to buy.
The Conservatives’ victory in the General Election has brought increased focus and media attention on the rules surrounding the right to buy and acquire as further details emerge of the plans to expand these schemes. Local authorities and housing associations are likely to be closely monitoring any announcements made by the Government in the coming months and will hope that any changes do not adversely affect their finances and ability to manage their stock.