Right to Buy FACTS, Northampton

Northampton Right to Buy FACTS

ANGER

Since 01 April 2012, receipts arising from the sales of dwellings made by local authorities under the Right to Buy have been divided into the following six elements:

 

 

 

  1. transaction costs (retained by the authority);
  2. allowable debt (retained by the authority);
  3. local authority share (retained by the authority);
  4. Treasury share (paid to the Treasury);
  5. buy back costs (retained by the authority); and
  6. 1-4-1 receipts (retained by the authority subject to conditions)

 

Northampton Borough Council in the period April 2012 to September 2014

 

177 dwellings have been sold giving receipts of over £8.4 million which have been divided as below:

 

  1. transaction costs (retained by the authority); = £230,100
  2. allowable debt (retained by the authority); =£2,761,314
  3. local authority share (retained by the authority);=£888,674
  4. Treasury share (paid to the Treasury);=£2,099,617
  5. buy back costs (retained by the authority); =£46,798
  6. 1-4-1 receipts (retained by the authority subject to conditions) =£2,394,284

 

Type of dwelling sold

1 Bedroom 20
2 Bedroom 67
3 Bedroom 82
4 Bedroom 5
5 Bedroom 3
TOTAL 177

 

 

£   230,100.00 Transaction cost
£ 2,761,314.00 Allowable debt
£     888,674.00 LA share
£ 2,099,617.00 Treasury share
£       46,798.00 Buy back costs
£ 2,394,284.00 1-4-1 receipts
£ 8,420,787.00 TOTAL RTB receipts
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