Sunday, 04 October 2015

Pay to stay scheme to fund new affordable homes

The housing minister has pledged to put ‘every penny’ raised from increasing the rent of high-earners living in social housing into building more homes.

Grant Shapps told Parliament today that there were currently around 6,000 households in the UK with combined incomes of £100,000 or more.

Mr Shapps said: ‘That is something we intend to tackle with the pay to stay scheme.’

When asked if would consider ring fencing the money raised by the scheme, Mr Shapps said that it was unfair that people were using social housing to live in areas which many people could not afford.

‘We think that there are some tens of millions of pounds that will be available with pay to stay,’ he said

‘And with that money we will use every penny of it to provide more affordable homes for those who really need it.’

Previously Mr Shapps has said that around £56 million could be raised from charging market rents for high-earners living in social housing.

Readers' comments (11)

Comments are only open to subscribers of Inside Housing

Already a subscriber?

If you’re already a subscriber to Inside Housing, your subscription may not be linked to your online account. You can link your subscription from within the My Account section of the website and clicking on Link My Account.

Not yet a subscriber?

If you don't yet subscribe to Inside Housing, please visit our subscription page to view our various subscription packages.

Have your say

You must sign in to make a comment

sign in register

Newsletter Sign-up



  • Pay to Stay will make homes ‘unaffordable’

    4 September 2015

    Tens of thousands of social tenants across southern England affected by Pay to Stay would struggle to afford to carry on living in their home if forced to pay full market rent, according to exclusive research.

  • Pay to Stay 'likely to be tapered'

    22 July 2015

    Social tenants earning just above the new ‘pay to stay’ threshold are unlikely to be hit by a dramatic increase in their rents, with the government expecting to bring in a ‘tapered’ system.

  • Pay to stay will be 'headache' for landlords, lawyers say

    15 July 2015

    Housing experts have branded new ‘pay to stay’ rules an ‘administrative headache’ after the government confirmed that existing tenants would be subject to the policy.

  • 'Pay to stay' measure slammed by landlords

    8 July 2015

    George Osborne has been accused of seeking to ‘dismantle’ affordable housing after plans were confirmed to force higher earning social tenants to pay market rent to keep their homes.

  • 'Pay to stay' rules compulsory for all social landlords

    7 July 2015

    New rules forcing social tenants earning higher incomes to pay market rent to stay in their homes will be compulsory for all social landlords in England, the government has confirmed.

IH Subscription