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Home Ownership Scheme

Volume 76: debated on Monday 1 April 1985

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asked the Secretary of State for the Environment if he intends to change the price limits that restrict the purchase of property under the home ownership scheme for tenants of charitable housing associations.

The price limits have been reviewed in the light of changes in house prices and the following limits will apply to all purchases completed after 1 April 1985:

  • Greater London—£45,000
  • South East—£40,000
  • Elsewhere in England and Wales—£30,000
The definition of the south east is wider than the former "home counties" zone and now includes the whole counties of:

  • Bedfordshire
  • Berkshire
  • Buckinghamshire
  • Essex
  • Hampshire
  • Hertfordshire
  • Isle of Wight
  • Kent
  • Oxfordshire
  • Surrey
  • East Sussex
  • West Sussex

The rules for the scheme have also been amended so that tenants may now buy a dwelling outright even if it costs more than the price limit provided that they pay all the excess from their own resources. I believe that these changes will help more people to buy homes that are suitable for their individual needs under the scheme.