Reduce Right to Buy Discount
It is grossly unfair on all those who buy modest houses immediately and have to take out 95% mortgages, that others who have been lucky can have a superior financial position a number of years later.
How can it be right if someone for example has a £100k house, with a £95k mortgage, who after five years on current rates may have paid off £5-6k, be in a worse position after 5 years compared to someone lucky enough to get to play the system
If you get a council house, after 5 years you will get a 35% discount. So the same house could of been bought for £65k
Making the person who was lucky enough to have a council house be in a position where they have equity of £35k.... compared to the mortgage payer of £7k
Who probably in that time has spent more in mortgage payments compared to the council tenant & probably spent money on renovations etc, that the council tenant had paid!
Therefore, any discount should be massively reduced, and only be done at 1% per annum!
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