rush to beat March 4 right to buy deadline
tenants hoping to buy their home could save up to £22,000
on the purchase price if they get their application in to
the town hall before March 4.
many tenants it could be their last chance to join the ranks
of the nation's home-owners as new discount curbs to be imposed
by the Government from March 5 will force up the cost of buying.
tenants can claim a maximum discount of up to £38,000
towards the cost of buying their home under the right to buy
scheme introduced in 1980. This will fall to just £16,000
on March 5.
many council properties now valued in excess of £100,000
the new discount level will be of little use to the vast majority
Even with the current level of discount three out of four
applicants drop out because they cannot afford to go ahead
with the purchase.
member for housing Martin D Johnson said home ownership advisers
had taken hundreds of calls from worried tenants:
best advice we can give is to get your application in before
March 4. Then at least you have a chance of qualifying for
the full £38,000 discount. After
that and you may find that the chance of buying your council
home has gone forever.
council is trying to get ministers to change their mind. We
have been arguing for years that discounts should be increased
to keep up with rising property prices in London. Sadly
it seems the Government is determined to bring right to buy
to an end for all but a handful of well-off tenants. For anyone
interested in buying either now or in the future time is running
are now writing to more than 18,000 council tenants alerting
them to the new March 4 deadline.
to buy application forms are available for personal visitors
from the home ownership unit reception in the town hall -
or over the telephone on 020 8871 6012. The
home ownership unit is open from 9am to 5pm Monday - Friday
with a late-night opening on Thursdays to 7pm. It will stay
open until 8pm on March 4, 2003 to receive last minute applications.