We can help make Right to Buy work

Recent rumours suggest that the government will announce the West Midlands as the chosen region to roll out a more extensive pilot to implement the Voluntary Right to Buy of housing association properties.

Housing minister Gavin Barwell says the region is a “strong contender”. So what would this mean for the Midlands and housing associations like Midland Heart?

“The opportunity for tenants to own their home can be life-changing.”

For our tenants, this is a chance to own their own home. Given where property prices are in the Midlands region, homeownership can really be affordable for those of our tenants who aspire to own their own home.

And that opportunity for our tenants, to own their home for the first time, can be life-changing. 

But we’ll need to work closely with them to make sure they can access professional advice and support to make a decision that is best for them. This includes understanding the implications and risks associated with borrowing and also their responsibilities as a homeowner for things like repairs and maintenance.

And while the opportunity to own their own home will be life-changing for some of our tenants, we need to remember those who can’t afford the move into homeownership – not now, and maybe not ever.

As the minister has quite rightly pointed out, the success of the Voluntary Right to Buy is absolutely dependent on whether we’re able to build replacement properties on a one-for-one basis. And it’s that which any regional pilot will really need to test.

So if it is to be the West Midlands, let’s focus on stress-testing demand, reviewing the practicability of porting discounts to other properties and demonstrating that housing associations can really work together to make this a success.

Change is coming to the West Midlands – we have a combined authority, a devolution deal, and from May, we’ll have a directly elected mayor with significant powers over housing.

If the region is to be the next stage of the pilot, collectively we’ve got a real opportunity to make the scheme work – for those who want to buy, and for those who will always need an affordable rented property.

Housing associations are ready and willing to deliver on this.

Ruth Cooke, chief executive, Midland Heart