Agenda item - Home Purchase Policy

3.2       The Housing Service Operations Manager introduced the report and encouraged residents to send comments to Di Hughes, the Business Change Manager.

3.3       In response to queries raised by the Panel the Housing Service Operations Manager clarified the following:

·         If a tenant purchased their property in the Right to Buy scheme then they could not resell it for five years.

·         Properties would be sold back to the Council at market rates; however, there was a cap of £250,000 to spend on a property. The demand of the market and the need of a property would be assessed before buying.

·         There was a budget of £1m to buy properties back in 2017.

·         If the property the Council decided to purchase was in bad repairs then this would be reflected in the price.

·         Social housing rent was calculated on the size of a property, rather than the location. Affordable rent could be up to the maximum of 80% of the market price.

3.4       RESOLVED – That the Panel agreed to note the report.