How you could be banned from buying your council house under Right to Buy under proposed changes

The Right to Buy scheme, which allows social housing tenants to purchase their homes at a discount, could be set for significant changes under new proposals.

The scheme currently offers up to 70% off the market value of a home, capped at £102,400 or £136,400 in London.

However, Chancellor Rachel Reeves announced in her Autumn Budget that these maximum discounts would be reduced to £16,000 and £38,000 in London, returning them to pre-2012 levels.

READ MORE: Toblerone's hidden logo detail leaves people in disbelief - and it's actually very obvious

READ MORE: UK households are being warned to keep curtains open during cold weather blast to keep warm

A consultation has now been launched by the Government, outlining further potential changes to the scheme.

These include extending the minimum tenancy period required to access the scheme from three years to potentially five, ten, or more than ten years. The consultation will also consider whether new-build homes should be excluded from the scheme.

Currently, properties over three years old are eligible for Right to Buy, but this could be increased to between ten and 30 years, or even made permanent.

Introduced in 1980, the Right to Buy scheme allows secure tenants with a public sector landlord - such as a council, housing association or NHS trust - to potentially purchase their primary residence at a discounted rate.

However, Deputy Prime Minister and Secretary of State for Housing, Angela Rayner, has expressed concerns over the scheme's impact on social housing availability, reports the Mirror.

She stated: "For millions of people in the position I was once in, that first step into the secure social housing that changed my life has become a distant dream. Too many social homes have been sold off before they can be replaced, which has directly contributed to the worst housing crisis in living memory.

"We cannot fix the crisis without addressing this issue – it's like trying to fill a bath when the plug's not in. A fairer Right to Buy will help councils protect and increase their housing stock, while also keeping the pathway to home ownership there for those who otherwise might not have the opportunity to get on the housing ladder."

However, Shadow Housing Secretary Kevin Hollinrake criticised Labour's stance, saying: "Labour are now pulling up the drawbridge on home ownership and limiting aspiration and social mobility. It's the height of hypocrisy for Angela Rayner to constrain the policy that helped her move onto and up the housing ladder."