DCN: ALL RIGHT TO BUY RECEIPTS SHOULD HAVE LONGER TIMEFRAME
In its submission to a government consultation on the use of Receipts from Right to Buy Sales, Cllr Sharon Taylor, DCN Finance Lead, said:
“Having two sets of time limits for use of Right to Buy receipts for the same purpose is illogical, particularly where DCN, as the planning and housing authorities, share government’s ambition to increase house building.
“We support the time limit for spending existing Right to Buy receipts being extended from three years to five years so that councils can maximise the benefits of the housing borrowing cap being scrapped, to build much needed homes in their local areas.
“However, this proposal must be extended to the use of future receipts so that councils can ensure that they achieve best value. There is no logical reason why future receipts should be subject to a shorter time frame compared to existing receipts.
“Furthermore, the time limit for complex and high value regeneration schemes should be extended to seven years to avoid deterring major housing delivery projects.
“If councils are to play a full part in delivering the Government’s ambitions for social housing and to increase opportunities for families, they need to be able to keep 100 per cent of Receipts.”
District Councils’ Network media office, 020 7664 3333