News & Legal Updates
Sign up to news & legal updates
I was very interested to read Philip Aldrick’s column in The Times on Saturday 19 December. As readers of this blog will know, I have been a strong advocate for both UK and Scottish governments using Housing Associations as the vehicle to deal with the nation’s housing crisis. As I have previously highlighted the quirk in the system is how Housing Associations currently value their property – i.e. they value them at build value subject to depreciation rather than open-market value. This is highlighted in Philip’s column.
I would advocate, rather than the current UK government plan, that by simply changing the rules to enable Housing Associations to value their assets at open-market value and allowing them to borrow against this, it would free up a considerable sum which could be reinvested into building new properties to alleviate the housing shortage. As readers will know, I am also an advocate of right to buy, as I do think that giving people the opportunity to move on to the housing ladder and for them to have a financial, as well as an emotional stake in the property, is very important. I would not rush to re-introduce right to buy and certainly when it is re-introduced, say after five years, I would restrict the discount given. However, it is interesting to see that this issue is now moving up in the agenda and I would strongly urge the Scottish government to investigate this and use the Housing Associations as the tinder to ignite the house building that is so urgently required.
Partner – Head of Property
The opinions expressed in this site are of the author(s) only and do not necessarily represent the opinions of Blackadders LLP.
Blackadders takes all reasonable steps to ensure that the content of this site is accurate and up to date. The site is not, however, intended as a substitute for seeking legal or other professional advice but rather as an informative guide to the services provided by Blackadders and topical legal developments. Site visitors should always seek advice tailored to their specific situation. Consequently, Blackadders accepts no responsibility for any loss or damage suffered by anyone acting or failing to act on the basis of information contained on this site. Downloading of material contained on this site is at the user’s own risk and all necessary virus checks must first be carried out by the user. Blackadders is not responsible for the material found on any web sites linked to this one and links to this site may only be made with Blackadders prior consent.
Blackadders owns the copyright in this blog and all material contained on it. The material on this site may be downloaded for personal use only and must not be altered. Otherwise, Blackadders’ written consent is required before any material on this site is reproduced, copied or transmitted in any way.
Information passed to us via this site is kept confidential and will not be disclosed to third parties except if authorised by you or required by law.
© Blackadders LLP 2020
Members of the Law Society of Scotland.
Blackadders Solicitors is a trading name of Blackadders LLP, a limited liability partnership, registered in Scotland No SO301600 whose registered office is 30 & 34 Reform Street, Dundee, DD1 1RJ. Reference to a ‘partner’ is to a member of Blackadders LLP.Back to News & Legal Updates