The use of large up-front fees and disproportionate deposits has already resulted in significant cost consequences for one care provider.
Pre-election the HA RTB was included in the list of promises that would be turned into action within the first 100 days. If the Conservatives were anticipating a minority Government they might have taken the view that such a proposal would be voted down and that would be the end of it; but now they have to deliver on their promise – and soon.
The manifesto promise did make clear that housing associations would be “compensated”; though some commentators have pointed out the promise didn’t state fully compensated; when the Conservatives introduced the Right to Acquire they did just that; so they have form in returning the discount in cash to housing associations.
And with the RTA careful thought was given to asset cover; the “net and peak debt” exclusion was an attempt to provide a solution for entities who had entered financial arrangements with no thought that their assets might be compulsorily sold. The “peak debt” part is an exclusion where the amount of the sale price less the discount doesn’t cover “the maximum amount which the landlord may borrow under a loan agreement which is attributable to the dwelling-house”
The RTA legislation also picked up the anomalies such as rural housing developments.
So if we were the civil servants trying to implement this we would propose:
- Renaming the Right to Acquire the HA Right to Buy
- Increasing the discounts to the same as the RTB
All well and good (almost?) for housing associations? Not too good for local authorities though nor people waiting for social housing generally...
For more information
Please contact Jonathan Cox.
The government announced on 16 May that it will provide a fund of £400m to cover the costs of removal and replacement of cladding to high rise residential blocks which have failed tests.
Whilst some people are under the impression that preparing a Lasting Power of Attorney (LPA) is simply a case of completing a form and ticking a few boxes, it is about far more than this.
A big fear for some people facing divorce and the inevitable carving up of the matrimonial assets. They seek assurances that such assets will be “ring-fenced” and retained for them.
Thinking about the legal status of being a cohabitant probably isn’t at the top of the ‘to do’ list.
When an individual is thinking about making a gift to another individual, consideration needs to be given to the Potentially Exempt Transfer (PET) trap.
We are now only a few weeks away from the biggest change to data protection laws in over 20 years. Are you compliant?
The tragedy, in this case, is that there were options readily available to the midwives that they could have used. This was not a case of having to go above and beyond.
Arising from the recent Family Division announcement, people who think they are legally divorced may in fact still be married.
The SCCS has issued providers in the scheme a series of updated and new documents in order to assist with their National Minimum Wage review.
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