London Right to Buy tenants 'forced out' of city

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Monday 8 September 2014 12.27pm
Monday 8 September 2014 12.47pm
Quote:
Inside Out has uncovered evidence that shows some are being pressured to accept sums that are below market value.

Given that the leases were sold under Right To By at below market value, that seems strangely appropriate.
Monday 8 September 2014 1.15pm
Rambling Phil wrote:
Quote:
Inside Out has uncovered evidence that shows some are being pressured to accept sums that are below market value.

Given that the leases were sold under Right To By at below market value, that seems strangely appropriate.

Well said.
Monday 8 September 2014 5.00pm
The person responsible for regeneration at Southwark Council, Mark Williams, was on the BBC news earlier today talking about the leaseholders on the Aylesbury Estate. He really couldn't be arsed to lie well. Just lazily repeated 'they're getting a fair offer'. Not a market rate offer, of course, or enough to allow them to buy in the area they live. Southwark Council has stopped pretending to give a **** that it's there purely to rubber stamp the whim of whatever private developer Peter John has had dinner with that week.
Monday 8 September 2014 5.34pm
Not all leaseholders bought council flats under the Right to Buy policy. Many ex-council homes have been at market prices because owners sell up and move on. Don't assume that because someone owns an ex-council house/flat, that they bought it at a reduced price.
Monday 8 September 2014 7.10pm
As far as I remember tenants were allowed to buy the property they rented under "The right to buy" at the then current market price less some quite substantial discounts but the market decided the original selling price before the discount was applied The discount earned by the tenant was related to how long they had been a rent paying council tenant so there is no poetic justice in lease owners being cheated out of the true market price by the council.
Karen has pointed out many of the original buyers have sold up and moved on leaving behind leaseholders who have paid the full market value and as such they should be reimbursed to the full value of their homes.
Monday 8 September 2014 7.25pm
It also cannot be presumed that those that bought through RTB did so with the full discount, also, I bet they all forked out when the council demanded it, lick of paint here and there etc.
Monday 8 September 2014 10.45pm
It seems an unneccessary diversion to take this discussion down the RTB sidetrack.

Personally, being as flexibly-minded as possible as to the idealogy of its supporters, i think RTB could have been a good idea if the money HAD to be used to build at least one new council home for every home sold. I would have to be persuaded hard as to why tenants should be offered discounts against market values, but that's not relevant to this argument...

However, if I was in the position of being offered my own home at a discount, in an era where that was almost a one-way bet, with people falling over themselves to lend me the money, my morals could have cost me an amount equal to several years' take-home pay. Arguably, anyone who didn't exercise RTB rights, or at least sell them on, was illogical.

Everyone on that estate had a home in SE1. What will they have now, with these low offers!

...if you press it, they will come.
Monday 8 September 2014 11.25pm
As Aylesbury Estate now, Heygate Estate before.

Never one to miss a chance to make the 'forced out of London' thing completely graphic and obvious, here is the displacement map of the Heygate leaseholders.

https://maps.google.co.uk/maps/ms?msid=206540700955382422085.0004ddeb74e646a7276ee&msa=0&dg=feature

aka 'Map showing displacement of Heygate estate leaseholders. Data obtained from Southwark Council during Heygate estate Compulsory Purchase Order Public Inquiry - Feb 2013'

From:

http://heygate.github.io/
Sunday 14 September 2014 9.33pm
they need to take this up with RICS who are in charge of fair valuations in the uk via their royal charter and members.

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