Local MP Marcus Jones has welcomed news that the maximum discount for tenants purchasing their home through Right to Buy has increased to £75,000.

The change will more than triple the discount cap in most parts of the country, providing tenants who have the Right to Buy or Preserved Right to Buy with a real incentive to buy their home.

In an announcement by the Housing Minister, Grant Shapps MP, it was also confirmed that the Government is aiming, for the first time, to ensure that all additional homes sold will be replaced with new homes for affordable rent on a one for one basis nationally.

Commenting on the news, Marcus said: “This provides tenants with a real incentive to purchase their home after years of the last Labour Government reducing incentives for people to purchase through Right to Buy.

“It represents a step forward for many Council tenants who would like to get onto the property ladder and I would urge Nuneaton and Bedworth Borough Council to ensure that all tenants are contacted to make them aware of this possibility.”

The Government has also set up a Right to Buy page on Facebook, enabling tenants to swap information and get answers to any questions. The page can be visited at: www.facebook.com/righttobuy