Right to Buy mortgages
February 8th, 2018
Money Box Live: Right to Buy Radio 4 7th February
New data shows a big rise in the number of council homes in England sold off in the past 6 years. It follows government efforts to boost the scheme, which gives council tenants the right to buy their homes at a hefty discount, funded by the taxpayer. The policy was introduced in the 1980’s under Margaret Thatcher, to encourage home ownership and greater social responsibility. Since then, more than 2 million council homes across the UK have been sold. But it’s always been controversial with concerns that not enough replacement homes are being built to meet demand. Scotland stopped selling off its council homes in 2016 and Wales is following suit.