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Homes in Lewisham sold through Right to Buy are being returned to social housing in a new ‘buyback’ initiative by Phoenix.
So far we have completed the purchase of three Right to Buy properties with a further 12 in the pipeline. The initiative, funded through previous Right to Buy receipts, is aimed at restoring good quality homes at low rent as part of our efforts to tackle the shortage of affordable housing in the area.
We will shortly be writing to all of our 1,000 leaseholders to advise them of options for selling back their properties and the associated benefits of saving on estate agents fees.
The programme is particularly focused on two-bedroom homes, which are needed by around 4,000 Lewisham households currently on the borough’s housing waiting list.
Meanwhile, we have started to roll-out a new programme of development in south Lewisham following a £60million investment earlier this year. This will fund around 200 new homes and offers much more flexibility for a much larger development programme over the coming years.
Phoenix Chief Executive Jim Ripley said: “There’s an ongoing housing crisis in Lewisham, and across London, and an acute shortage of social housing. We want to support Lewisham Council and other partners in tackling this issue by every means possible, and I’m pleased that we’re starting to restore homes back to low rents.
“We respect the right of residents to use the Right to Buy but the fact is we will never be able to replace each of these homes with new social housing, particularly given the cost and availability of land. Our buy-back scheme offers an easy and practical way for leaseholders to sell their properties and ensure they can be enjoyed by families and individuals who are in desperate need of a decent home.”
Since 2008 Phoenix has sold 160 properties through Right to Buy, with all receipts now reserved for the purchase of properties or land on which to develop new homes.
Any leaseholders who would like more information about selling their property back to Phoenix can email email@example.com or call 0800 0285 700.