Frequently asked questions about the new Voluntary Right to Buy scheme
Last updated September 2016
What is the Voluntary Right to Buy?
The Government committed in the last General Election to extend the Right to Buy to housing association tenants. Housing Associations offered to voluntarily work with the Government to make this a reality. Since then, we have been working with the Government to agree how this new offer will work in practice.
For updates or more information about the Voluntary Right to Buy (VRTB), Hyde tenants can sign up for updates from the Government or contact the Right to Buy Agent Service at rightobuy.gov.uk.
When will the Voluntary Right to Buy start?
The start date for the Voluntary Right to Buy has not yet been confirmed. To receive the latest progress updates from the Government please sign up to righttobuy.gov.uk.
Hasn’t Voluntary Right to Buy already started in some places?
The Government is currently working with five housing associations to pilot Voluntary Right to Buy in limited locations to help inform the design and implementation of the main scheme. More information can be found on righttobuy.gov.uk.
Will I be eligible for a Voluntary Right to Buy discount to buy my Hyde home?
The Government will, in due course, finalise the tenant eligibility criteria and when the scheme will start.
If I am eligible, will I be able to buy the home I am living in now?
Tenants who meet the Government’s eligibility criteria will be entitled to a Voluntary Right to Buy discount and, in most cases, we expect the tenants will be able to use their discount to buy the home they live in.
However, there may be cases where Hyde cannot sell a particular home. Hyde will publish a policy outlining which home we will sell and those we cannot nearer the date of the scheme launch.
Why is Hyde participating in the Voluntary Right to Buy?
The Government made an election manifesto commitment to extend Right to Buy to Housing Association tenants and was voted in by the public to do this. Housing Associations agree to work with the Government to deliver it voluntarily as this addresses concerns we had about aspects of a statutory scheme. For example, it will allow us to replace the homes sold and protect certain, hard-to-replace homes from being sold.
Will Voluntary Right to Buy mean we lose social/affordable housing?
A key part of Housing Association’s agreement with the Government is that, because we will get full compensation for each home we sell, they will replace every home sold with another affordable home and continue boosting the nation’s housing supply. Last year, Housing Associations delivered 40% of all new homes in the country.
Will the replacement homes be the same kind as those sold?
Housing Associations will be able to replace affordable homes flexibly in a way that reflects what each local community needs. Whether it is a home for shared ownership or a home for social or affordable rent, Housing Associations will be able to use their unique understanding of their communities to assess what is needed.
If I currently have a shared ownership home, can I purchase my home with a VRTB discount?
If you are a shared owner you are not eligible for Voluntary Right to Buy, but you can talk to us about buying further shares in your home. Find out more about staircasing on our Hyde New Homes website.
If you are a Hyde tenant you can register your interest in the new scheme by completing our online form. We will then provide you with updates on how you can purchase your home through the new scheme as and when Government policy becomes law.