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VALE ROYAL COUNCIL TENANTS TRANSFERRED

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Tenants of Vale Royal BC have received a multi-million pound boost today with the transfer of 6,829 dwellings from ...
Tenants of Vale Royal BC have received a multi-million pound boost today with the transfer of 6,829 dwellings from the local authority to Weaver Vale Housing Trust.

The new housing company, will pay the council£52.2m for the

stock and carry out a£67m repair and modernisation programme.

Housing minister Tony McNulty said: Vale Royal tenants would benefit

from an accelerated programme of repairs and improvements, while

rents remain affordable.

'By working together, the council, Weaver Vale Housing Trust, and

tenants now have an excellent opportunity to provide real

improvements in Vale Royal.'

Today's announcement brings the number of approved LSVTs to 157,

involving 647,000 dwellings. These transfers have raised more than

£10bn in private finance raised to purchase and invest in

housing stock.

NOTES

1. Provision to set up Local Housing Companies (LHCs) appears under

the Housing Act 1996. LHCs allow greater local authority and tenant

participation than other Registered Social Landlords such as housing

associations and are not limited by the same borrowing restrictions

imposed on local authorities.

2. Under the Leasehold Reform, Housing and Urban Development Act

1993, a local authority proposing a transfer of more than 499

dwellings must first obtain a place on an annual disposals programme

approved by the Secretary of State. Councils must then obtain the

consent of the Secretary of State under the Housing Act 1985 for each

transfer after it has formally consulted its tenants.

3. The first transfer under the LSVT programme was of 4,650 dwellings

by Chiltern DC to Chiltern Hundreds Housing Association

in December 1988. With the Vale Royal transfer, there will have been

157 whole or partial stock transfers by 128 local authorities.

4. The government is committed to brining all social housing up to a

decent standard by 2010 and housing transfer is expected to remain an

important vehicle in achieving this target. The Housing Policy

Statement - Quality and Choice: a decent home for all - the way

forward for housing - issued on 13 December 2000, confirmed that the

government is willing to support the transfer of up to 200,000

dwellings a year, where the authority believes this is the right

choice and tenants are in favour.

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