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Open Market Properties

Posted on 16 Dec 2022

Vulnerable homeowners Policy

One of the objectives of the Housing Revenue Account Business Plan is to invest in the provision of new affordable housing.

The provision of new affordable housing can be achieved by either direct investment in purpose-built new build housing or through strategic acquisitions on the open market.

This policy sets out the council's approach to the purchase of properties to enable qualifying vulnerable homeowners to move into more suitable accommodation and support the council’s approach to the prevention of homelessness.

It will allow the Council to increase the supply of affordable housing within Stevenage through the acquisition of properties. It will also enable the Council to spend receipts from Right-to-Buy sales, to avoid repaying them to the Government.

Policy

Our 'Policy on the purchase of open market properties to assist vulnerable homeowners to move into more suitable accommodation and to support the prevention of homelessness.'

Please note: This policy is currently under review.