Last week, the NHF published its final version of its new Code of Governance and made some important changes from the previous draft that will impact on those housing associations looking to adopt it.
The maximum discount available to tenants exercising their right to buy or preserved right to buy (in England only) is increasing.
The maximum discount available to tenants who make a RTB or PRTB application which is received by the landlord on or after 6th April 2018 will be:
- £80,900 outside of London
- £108,000 within London
This change does not affect applications which are ongoing as at 6 April: it only affects new applications received from tenants on or after that date.
The increase has been brought about by the 2014 legislation which increased the maximum discount amount. That legislation also set out that the maximum discount amount would then increase on 6th April each year in line with Consumer Price Index (CPI).
The maximum discount amount for the right to buy and preserved right to buy will be reviewed again next year.
For more information
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