Voluntary Right to Buy
Stonewater is pleased to confirm that it will be taking part in secondary pilot of the Voluntary Right to Buy (VRTB) scheme due to commence in the Midlands area this summer.
The Autumn 2017 Budget confirmed the Government’s intention to proceed with a large-scale regional pilot of the Voluntary Right to Buy scheme in the Midlands.
A pilot in the Midlands, where there is a range of different housing markets, will provide vital information to Stonewater, fellow Housing Associations and the Government before the scheme may be launched nationwide.
Stonewater are keen to play a part in exploring how elements of the VRTB scheme will operate, whilst also giving some of our Tenants an amazing opportunity to buy their home at a potentially substantial discount.
Stonewater aims to work closely with other Housing Associations involved across the pilot area to allow Tenants to make use of portable discounts, building on the learning from the original pilot to ensure we can continue to deliver for our customers and help them to take the step into home ownership.
How is my discount calculated?
The discount you receive will be based on the type of property you live in and the length of time you have been a public sector Tenant. As part of your application you will be required to submit details of all public sector tenancies you have had, these will all be added up to create a qualifying period upon which the discount is based.
Our Voluntary Right to Buy discount table shows the percentage of discount you will be entitled to, however the maximum discount a Tenant can receive is capped at £80,900.
Stonewater can confirm that Tenanted properties located in the following Local Authorities may be eligible to take part in the scheme, if you are unsure of which local authority your property falls under then you can check this easily by referring to your council tax bill:
Please note that the VRTB scheme is not open to customers of Stonewater Homes who own a property under Shared Ownership.
Questions and Answers
We've produced a handy Q&A's leaflet that provides you with more information about VRTB.
Require more information?
You can email VRTB@stonewater.org if you're interested in this amazing opportunity to buy your own home including information on eligibility.
Wish to register for the VRTB scheme?
For more information and details on how to officially register your interest, visit the Stonewater Homes website.