Member

Amendments 41 and 42 from the noble Lord, Lord Stoneham, would introduce a right of first refusal for the local authority and other registered providers notified during that notice period. This right would be on condition that the home remained social housing but would require the private registered provider to sell the home at the existing use value for social housing. I share the noble Lord’s desire to see social homes remain in the sector where possible. However, it is ultimately for private registered providers to make the best use of their assets. Sometimes this may mean selling a property on the open market to maximise the amount they have to invest in more new homes or in their existing stock. There is nothing to prevent a private registered provider choosing to sell to another provider at a lower price on the understanding it remains in social housing. I would hope that the notification requirement introduced by this Bill ensures that those discussions happen. I would therefore kindly ask noble Lords not to press their amendments.