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VOLUNTARY RIGHT TO BUY:

FOR THE ATTENTION OF: HOUSING ASSOCIATIONS

VOLUNTARY RIGHT TO BUY: ARE YOU READY?

Social housing provides stable, affordable homes for those at the sharp end of the housing crisis. According to the Office of National Statistics, there are 4.1 million socially rented properties in England and Wales. With housing a top priority for Government to help secure the future of the country, major changes lie on the horizon.


A NEW DAWN IN THE AFFORDABLE
HOUSING POLICY

The Housing and Planning Bill will breathe new life into the ‘Right to Buy’ scheme. Initially introduced in 1980, the scheme was designed to help council and housing association tenants in England buy their home at a discount. In April 2012, the maximum discounts were increased to £77,900 across England (£103,900 in London), causing a further 33,000 households to take up their Right to Buy.


Under the new Housing and Planning Bill, it would:

  • Make more tenants eligible to purchase their homes.
  • Allow local authorities to sell off their highest valued properties and re-invest into more affordable housing projects.
  • Extend the current ‘Voluntary Right to Buy’ (VRTB) scheme that is being piloted in specific areas within five housing associations: L&Q, Riverside, Saffron, Sovereign and Thames Valley.

A report from the Department for Communities and Local Government indicates that the new legislation is driving more tenants to want to own their own home. Among social renters, 44% have expressed a desire to buy their home, increasing from 37% previously.

6 ways Voluntary Right to Buy will affect you

There’s no denying that extending the scheme will impact your operations. In our experience additional requirements will include:

  1. Resources to process applicants manually.
  2. Resources to qualify the applicants.
  3. Time required to explain the process and ensure compliance.
  4. Tracking and time stamping each applicant.
  5. Compliance with the Data Protection Act.
  6. Aligning assets to ensure applicants only come from the right properties.

So what can you do to minimise the impact of the changes, and maximise the returns?

Introducing VRTB Assessments

Working alongside one of the housing associations in the current VRTB pilot, we have gained a deep understanding of the specific drivers in your industry and developed a tool to help you address the challenges.

VRTB Assessments is a system that enables online applications to be processed quickly and easily by applying rules to filter out applications that do not meet the qualifying criteria. Choose VRTB Assessments for:

  • simplicity
    Simplicity

    Gather all the information you require to process a tenant application in just five steps.

  • automation
    Automation

    Significantly reduce the time and resource required to handle each claim.

  • flexibility
    Flexibility

    Allow for easy changes and updates to questions and information fields.

  • security
    Security

    Data resides online, locked behind strict security protocols for greater protection

  • integration
    Integration

    Export data via CSV to add it to your existing CRM system

STAY AHEAD OF THE LEGISLATION

When the VRTB pilot is launched nationwide this summer, you’ll want to be ready to cope with the demand. Contact us to relieve your impending administrative burden with VRTB Assessments.

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IF YOU WOULD LIKE TO JOIN THE LIST OF PEOPLE WHO TRUST US AND RELY ON OUR EXPERTISE TO SUPPORT THEIR BUSINESS, PLEASE FILL OUT THE FORM BELOW. OR TALK TO ONE OF OUR SPECIALISTS CALL US ON 01635 887711

OUR EXPERIENCE

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