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Nearly 40% of tenants express an interest in buying their Government-rented flat
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The government says that 1,449 tenants have expressed an interest in purchasing their flats, following the government initiative. The government says this represents nearly 40% of post-war flat tenants.
The Government will now proceed with the next phase of implementation of this policy which is to advise tenants of the pricing formula, and other relevant terms and conditions.
A Government spokesman said: ?The Government has noted Trade Union concern about people losing their jobs in Building & Works department. These concerns are unjustified and could have been avoided by simply asking the Government. No-one will lose their job or their earnings potential in consequence of this policy.?
QUICK SALE PLAN
Tenants affected received a letter in July saying that post-war flats would be sold to sitting tenants at heavily discounted prices. A number of conditions would apply such as sub-letting, re-sale restrictions and others. It was foreseen that from 1st November onwards, Government and purchasers would exchange legal documents and complete the sale.
The idea was to secure an initial reaction from tenants, which they now have, and now the second phase will come into operation, which is to unveil the pricing formula that would apply on such proposed sales.
A question tenants have been airing is what happens if some want to buy and others do not. If a block is to be repaired or repainted, for instance, would those who buy contribute cost out of their own money, while those who do not buy will not meet such cost, which will be met by the Government itself?
There are those who say they would have no objection in principle to buy but not necessarily the flat they now occupy.
It should be noted that the offer to buy is being made to sitting tenants.
Obviously, once the cost of any particular flat is known that will be a major factor in attracting tenants to buy or not to buy.
In the past, previous governments have offered to sell government housing at quite favourable prices, but there was never a real urge to buy.
TIMES CHANGE
However, times have changed. And owning property is more popular now than in the past, when only a small percentage of the population were owner-occupiers.
Some people might not be happy with the conditions that may be drawn up as part of the buying plan. But, of course, this would not be a ?commercial?sale in the sense that special prices would apply etc.
From a union point of view, they ought to adopt a positive position now that the Government has stated that no one will lose their jobs in the Building and Works department, which currently looks after repairs and maintenance in Government rented flats, but they might welcome to receive more information.
No doubt when details of the pricing formula and of conditions become known, many questions will be answered.
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