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London housing associations backing Right To Buy compromise

G15, the largest group of London housing associations, says its members unanimously back a controversial Right to Buy compromise proposal.

Under the proposal - put forward last week by the National Housing Federation - every housing association tenant would have the right to purchase a home with an appropriate Right to Buy discount. This could be their existing home or another from the association's stock. 

But associations would have the discretion not to sell - if, say, a property is in a rural area and cannot be replaced by another home, or if a property is adapted for tenants with special needs. 

Housing associations have only until 5pm on Friday to accept the deal, which is a compromise from the hard-line Right To Buy policies proposed by the Conservatives ahead of the general election, and widely criticised by the industry.

The NHF says its plans would see the Right To Buy discount fully funded by the government and every property sold would be replaced with another housing association home. 

Early indications are that most associations are in favour of the compromise, which the government has indicated it may accept providing it has the associations' support.

Amongst those accepting is the G15, which is responsible through its individual member housing associations for over 500,000 London homes.

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