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New Tenant-Purchase Scheme For Council Houses Welcome

By November 27, 2015No Comments

I welcome news of the new Incremental Tenant Purchase Scheme announced by Minister Kelly on Wednesday. This will make it much easier for tenants in council housing to purchase their house and the terms and conditions are also favourable. This is something that I have been proposing since I have been elected and I welcome the fact that it has now become a reality. The Department of the Envionment website says the following about the new scheme…………….

“The scheme will operate along the incremental purchase model already in place for certain newly-built local authority houses and for local authority apartments. The discounts are based on tenant, etc., income and will enable tenants to purchase their houses earlier than under previous tenant purchase schemes.The new scheme involves a discount for a purchaser of 60%, 50% or 40% off the purchase price of the house and an incremental charge on the house equivalent to the discount. This charge reduces to nil over a period of years in annual increments of 2% of the total value of the house, unless the tenant purchaser resells the house or fails to comply with sale conditions during the charged period”
Those tenants who want further information can contact the housing department of their local county council or they can contact me at my constituency office.