Open Market Properties
Vulnerable homeowners Policy
One of the objectives in 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 or through strategic acquisitions on the open market.
This policy sets out the councils 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 to repay them to the Government.
This policy is currently under review.