asked the Secretary of State for the Environment what proportion of housing association tenants will be given the right to buy when the proposals contained in the Housing Bill are implemented.
:About one-third of housing association tenants will have the right to buy, provided that the criteria set out in the Bill are met. In addition, we intend to bring forward amendments to the Housing Bill that will enable charitable, co-operative and co-ownership associations to sell to their members if they wish.
:I thank my hon. Friend for his reply, particularly on behalf of co-owners. However, I should like to ask whether there will be a pre-emption requirement to sell back to the Housing Corporation within a five-year period or, because they have paid the full mortgage payments throughout their tenure, will co-owners be allowed to get away without having to sell back?
:As my hon. Friend knows, co-ownership associations are self-governing bodies. The basis of their financing is different from that of the housing associations which have been in receipt of housing association grant. It will be for the members of those associations to make their own arrangements as to whether and how sales are made.