Right to buy home revival: How could a revamped scheme work and is it a good idea?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 6 May 2022

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

More than 40 years after Margaret Thatcher introduced Right to Buy, the current Prime Minister is considering plans to revamp the scheme.

Could it unleash a home buying revolution and help give a much needed boost to the Government, or is it a bad idea rehashing an old scheme?

This week, Simon Lambert, Lee Boyce and Georgie Frost discuss the plans, how it could work and why it may be unleashed in the near future.

Would it be unfair to private renters? With ever increasing property prices, would people be able to purchase them? And what are the current Right to Buy rules?

It's safe to say that green bonds, launched by National Savings and Investments last year, have been a damp squib.

Rates on them are low, and a three-year fix is a relatively niche product. Just how far have they missed the mark and could the rate head higher again to make them more attractive?

On the other hand, Premium Bonds continue to be an incredibly popular way to save.

The two jackpot winners this month had huge sums held in them – is that the only chance you have of winning a £1million, maxing out the holdings?

There are calls to claim your pension credit – nearly 1million people are missing out on extra cash and 'the door to more,' by not taking advantage. Could you, or someone you know, benefit?

The Bank of England celebrates 25 years of independence – we ask whether New Labour's gamble of making it independent has paid off, just as it hikes base rate to a 13-year high of 1 per cent.

Meanwhile, Lee reveals details of a new This is Money columnist signing – businessman Dave Fishwick is ready to take your business and careers questions. Found out how you can contact him.

Transcript

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0:00.0	Welcome to This Is Money podcast. I'm Georgie Frost and joining me and Simon Labbert today is Deputy Editor Leibois.
0:06.1	And coming up, 40-odd years after Margaret Thatcher introduced Right to Buy,
0:10.6	Boris is considering relaunching the scheme. Will it unleash a home-buying revolution and turn his government's fortunes around?
0:18.2	Also today, an innovative idea to help the environment or just a big damp squib.
0:23.0	NS&I's green bonds miss their target by billions. Why has it gone so wrong? Meanwhile, how much
0:29.3	do you really need in premium bond savings to have any chance of winning big calls to claim
0:34.2	your pension credit? And as the Bank of England celebrates 25 years of
0:38.1	independence, we ask whether New Labour's gamble has paid off. Don't forget you step to date
0:42.5	with all the latest breaking money news. Just go to this ismoney.com.uk or download the app.
0:48.3	Market updates and conversations around the financial world don't have to be boring.
0:52.6	The Digest and Invest Podcast by E-Toro is a great
0:55.4	way to tune into what's happening in a fun and easily digestible format. Discover the Digest and
1:00.7	invest podcast at E-Toro.com forward slash academy forward slash podcasts. But first, let's head back to the
1:07.6	decade that fashion forgot. Right to buy was first introduced in 1980 and allowed tenants
1:14.0	to buy their council houses at discount rate. The scheme helped 2.5 million people become homeowners.
1:21.1	Now, Beligad Boris is considering bringing it back. Simon Lee, welcome Simon. Let's start with a bit of a history lesson. It was
1:29.8	a bit unfair to the 80s because I think we were all born in it, so clearly a fantastic decade
1:35.0	and Star Wars as well. But we're not going to be talking about that. We're going to be talking
1:38.2	about something a little bit different. Right to buy. Just explain to me in your best Professor Simon Lambert way. How significant was it for those
1:48.8	getting onto the property ladder and also for Margaret Thatcher's government? What did it actually do?
1:53.4	It was hugely significant at the time because a lot of people lived in council houses and you had a lot of
2:00.4	council housing and people were a lot of council housing.
	...

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