COUNCIL tenants planning to buy their home in Lewisham will only get a maximum discount of £16,000 on its sale price under new Government plans.
The Right to Buy scheme, introduced in 1980, gave tenants the opportunity to buy their homes by offering maximum discounts of up to £38,000 under measures starting in March 2003.
The Government hopes it will stop profiteering companies exploiting the current Right to Buy scheme in areas where house prices are rocketing.
Deputy Prime Minister, John Prescott said he was "totally committed to the principle of Right to Buy" and believes the new discounts would free up more money to spend on social housing.
The current maximum discounts will still be available to all tenants who apply for RTB before the change occurs in March. For more information on these changes, call 020 7944 4400.
January 28, 2003 11:00
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