Happy New Year - our first newsletter of 2021! Throughout this year we will continue to bring you news and developments relating to the charities sector.
The report sets out the findings of the detailed research undertaken to better assess key aspects of the VRTB, such as profiling of tenants and stock, and the level of demand. The report underlines our experiences in working with the five associations, NHF and Department for Communities and Local Government to bring the VRTB Pilot to life. The findings of the report and lessons learnt from the Pilot will be invaluable to those considering taking part in the second VRTB Pilot, due to start this year.
Some of the key research findings identified were:
1) There was a fairly strong level of interest in VRTB as a proportion of those tenants who were living in eligible properties to apply.
The Report sets out that 27% of tenants in eligible properties expressed an interest with 6% going on to make an application. These figures would likely be higher in a national VRTB roll out which would be likely to include portability and wider property exemptions.
2) The average valuations of VRTB properties varied widely, reflecting marked local housing market differentials between the pilot areas.
We expect this to be a key factor in the implementation of the VRTB nationwide affecting the number of overall sales: we anticipate a real north/side divide as has been demonstrated by the figures in the Pilot.
3) By treating the discount as a deposit lenders were prepared to offer mortgages at relatively high multiples of household income, raising concerns about future financial risk for some applicants.
Many commentators have expressed doubt that eligible tenants will be able to obtain mortgages to purchase their homes. Our experience on the statutory RTB schemes is that mortgages are readily often available to purchasing tenants and the research shows that this trend has continued with the VRTB Pilot.
Our work on the scheme design, implementation and sales process for the VRTB Pilot means that we are uniquely placed to assist organisations who are considering taking part in the second VRTB pilot due to start this year (for more details click here).
For more information
Local authorities should be wary of reserving contracts for local suppliers, as recommended by Procurement Policy Note (PPN) 11/20. Other contracting authorities may want to maximise their use of this
Most housing practitioners have perhaps been waiting for this news since the latest lockdown was announced by the Prime Minister on 4 January 2021.
Climate change and biodiversity is an area where significantly faster changes are needed on a global and local basis.
Chris Lloyd Smith, Adrian Leonard and Lisa Whitehouse discuss the planning opportunities available to owners of businesses and how to prepare for unforeseen events.
In their 3rd podcast of the series, Chris Lloyd-Smith and Maria Ramon discuss a number of problems with and difficulties that can arise in mediation and the mechanisms they use to overcome them.
Our previous round-up began by sharing the news that two vaccines had shown very promising test results. Here we are, not even a month later, and the first vaccines have already been administered!
The Covid-19 crisis has demonstrated that there is great resilience and innovation in the housing sector across Greater Manchester, it has also brought shortfalls and other priorities sharply into foc
For part 5 in this series of short podcasts, Chris Lloyd-Smith interviews associate Kadie Bennett on how she has been coping during these unprecedented times.
The first report of Donna Ockenden and her team into the review of maternity services at The Shrewsbury and Telford Hospital NHS Trust has been published today.
To receive invitations to our events, as well as information and articles on legal issues and sector developments that are of interest to you, please sign up to Newsroom.