Monday, 8 September 2014

The right to buy rip off hits the news

BBC London is this morning reporting a huge rip off of right to buy leaseholders by councils across London. It seems where former council tenants have exercised their right to buy on leasehold properties in blocks of flats, councils have been refusing to pay the market rate, when these flats are compulsoraly purchased back by councils for redevelopment. Some tenants are only being offered 1/3 of the true market value and have no means to get a fair deal. Sadly our local MP's such as Mike Freer, who made the govt force through legislation to protect the property rights of foreign dictators, are not interested.

This is clearly completely imooral behaviour and as ever it is the most vulnerable who are most likely to suffer. Councils often go into partnership with rich property developers to execute such schemes and small fortunes are being made. Sadly the long term residents who have the strongest relationship with the area are the ones shafted in the process.

It is clear that the government, which brought in legisilation in the first place, should take action to guarantee the rights of tenants to obtain a proper market value.


baarnett said...

I've heard the same thing is happening at West Hendon and at Brent Cross. Maybe it's happened at Mill Hill East.

Moaneybat said...

"It is clear that the government, which brought in legisilation in the first place"

I did not see Blair nor Brown's nor Dismore's Labour, rescind the Right to Buy. In fact the last mentioned spun every mixed message did little other than warm words. It took him a long while before he signed the Early Day Motions towards the dying days of Labour to Defend Council Housing.

The only people making money from re-development of council estates are the taxpayer subsidised Housing Association building for sale one rung of the housing ladder that some will never be able to afford.

Inglis Barracks at Mill Hill East was sold to Notting Hill Housing Trust some years ago for those who do remember their humble beginnings in a shack somewhere near Westbourne Grove all those years ago. Money can change ideals and principles.