During the election campaign the Conservative party pledged to extend the Right To Buy scheme to over 1.3 million housing association tenants. Since being elected, the party in government has pledged that receipts from selling an owner’s current property will help housing associations to build replacement affordable homes on a one-for-one basis.
However, the Lords has now voted by 257 votes to 174 in favour of an amendment to the Housing Bill which would prevent charities being “compelled to use or dispose of their assets in a way which is inconsistent with their charitable purposes”.
Many housing associations are charities so if this amendment survives the remaining stages of the Bill’s passage through Parliament, it may be an opportunity to overturn the pledge.
Read the full Estate Agent Today article here