Right to Buy grant scheme
Right to Buy legislation allows council tenants to purchase their homes at a discount if they have been living in their council property for 5 years or more.
Because we've signed up to the government's 'one for one' replacement scheme, this means we can take a percentage of the money we receive from a Right to Buy property and use it to fund replacement affordable housing stock.
We are now inviting local registered providers, already working in the High Peak or adjoining local area, to bid for money to build new affordable homes through our Right to Buy grant scheme.
What types of schemes will be considered?
Given the increasing older population residing in the High Peak, the aim of the Right to Buy grant is to fund new affordable homes which will meet the needs of older people. Ideally this would be in the form of bungalows, but we would be happy to consider other forms of accommodation for older people.
How much funding is available?
We have an current budget of just over £900,000 but properties sold through Right to Buy ensures this pot will be continuously replenished.
The government states that we are unable to use money from Right to Buy properties to fund more then 30% of the total development cost.
How do I apply for funding?
There is an initial
Expression of Interest application form [68KB]
. If you want any help with the application or want to discuss your idea informally please contact the regeneration team.
Bids will be assessed against the following criteria;
Deliverability (including ownership, planning approvals and constraints)
Value for money
Alignment to strategic objective
Impact and community benefit
