STRUGGLING Brits renting new housing association properties would be able to start buying their homes from as little as ten per cent of their value if radical Tory proposals go ahead.
Housing Secretary Robert Jenrick said the Government will lower the current minimum threshold from 25 per cent for these new tenants.
2
And renters will then be able to add to the proportion of the home they own in one per cent increments rather than the current ten per cent requirement.
It is the latest move by the Tories designed to get the lowest paid households on the housing ladder.
There are 2.6 million housing association households, with more than 5.2 million people, who currently have no direct support into home ownership. The new concept will mean the Government working with associations on a voluntary basis to see what offer can be made to those in existing properties.
Mr Jenrick said: “Owning a home is not just about four walls around you, it is about investing in your family, saving for the future and putting down roots in a community.
“We are on the side of hard-working people who want the sense of security that comes with home ownership.”
The Housing Secretary announced new planning rules will make it easier for owners to extend and encourage developers to build attractive houses on tree-lined streets.
A design guide will introduce a national standard for local authorities to adhere to — but there will be scope for councils to draw up their own guides reflecting local needs.
Mr Jenrick said families will be able to add up to two storeys to their home without planning permission under the reforms.
The plans will also make it easier to demolish unused commercial properties to build new housing.
2
