Right to Buy returns as dozens buy Wandsworth Council-owned homes
Thirty-eight working households have bought their council-owned home under the Right to Buy scheme which was reinstated in April last year.
Wandsworth Council led a successful campaign to increase the maximum discount to £100,000 after it was cut to £16,000 by the previous Government.
The Government initially raised the discount to £75,000 in 2012 and then upped it to £100,000 earlier this year.
Of the 38 household to complete, 27 benefitted from the full £100,000 off the price of their home.
Since the first increase the council has sold 93 homes to householders, yet before the 2012 increase only two homes had been sold through Right to Buy in a full year.
Councillor Guy Senior, the council's Right to Buy spokesman, said: "We are up to 93 completions in Wandsworth and many more are working their way through the system - that's a terrific achievement.
"We appreciate the deep frustration felt by many low and middle income families who have been priced out of the London property market."
The funds raised through Right to Buy sales will be used to finance new affordable housing options for other local people.
A Right to Buy information booklet is available at www.wandsworth.gov.uk/homeownership For more information call 020 8871 6016 or email email@example.com.
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