40% of homes sold under Right to Buy scheme now rented privately

Research performed by Inside Housing Magazine has shown that almost 40% of former homes sold at a discounted rate under the Government’s Right to Buy scheme are now being let out on the private rental market. Figures obtained from 91 councils in England show 37.6% of flats sold to tenants under the policy are being sublet at up to seven times the cost of average social rents. The councils revealed that of the 127,763 leasehold properties sold, 47,994 leaseholders are now living at another address, most likely subletting the purchased property.

Full story available from The Independent: http://www.independent.co.uk/news/uk/home-news/right-to-buy-40-of-homes-sold-under-government-scheme-are-being-let-out-privately-10454796.html

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