Right To Buy Social Housing in the UK

Right To Buy Social
Housing in the UK
The International Islamic Banking Summit Africa
4th and 5th November 2015 Djibouti
Mohamed Ibrahim
Director MI Advice
Introduction
Former Civil Servant at
Government with 12 years
experience
 Graduate of London School of
School of Economics and Political
Science, MSc Housing Policy and
Social Change
 Social Campaigner for Muslims in
the UK on range of Economics,
Social and Political issues.

LSE MOTO “To Know the Cause of
things” (Poverty)
 Islamic Finance as a force for Good
– Economic and Social
Responsibility
 Leaders and Drivers of Change
 Partnership and Development:
Create the Conditions for
prosperity

Right to Buy: Social Housing
Right to Buy was introduced in the
Housing Act 1980, as one of the first
major reforms introduced by the
Margaret Thatcher government in 1980.
 In November 2011, a major new housing
strategy was announced by the Prime
Minister and Deputy Prime Minister, the
aim of the strategy was about the need to
tackle housing shortage, boost the
economy, create jobs, and give people an
opportunity to get on the housing ladder,
sense of belonging and aspirations.

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The new strategy included proposals
to dramatically increase discounts
under the Right to Buy scheme, with
social tenants being allowed discounts
of up to 50% of the value of their
home, making home ownership more
achievable.
The United Kingdom Government’s
Right to Buy scheme helps eligible
council and housing association
tenants in England to buy their home
with a discount of up to £103,900
(£77,900 outside London).
Profile and Statistics

38% of social tenants are well-off
enough to afford mortgage and over
800,000 tenants are in full-time work.
Source: Department for Communities and Local Government –
2011.

Muslims form 4.8% of the population
in England and Wales.The
populations has increased from 1.5
million to 2.7 million: Source: UK National
Census 2011


28% of Muslim Households occupy
Social Housing, UK National Census 2011
19.8% of the Muslim population is in
full time Employment, compared to
34.9% of the overall population, UK
National Census 2011

The proportion of Muslims in the
‘Higher professional occupation’
category is 5.5%, which is comparable
to the overall population – 7.6%.There
is greater comparability in the ‘Small
employers and own account workers’
category – 9.7%, UK National Census 2011
Challenges and Opportunities
At present there is no Islamic
Shariah Compliant Mortgage based
for Right to Buy Social Housing
(Muslim Tenants)
 28% of Muslim households live in
social housing
 Discount of up to £103,900 (£77,900
outside London).
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March 2013, the Government launched
the UK’s first Islamic Finance Task Force.
The Task Force was formed help to
cement London’s status as the western
hub for Islamic finance by showcasing the
UK as the preferred choice for the
Muslim world to invest in and do business
with.
UK a new Frontier for Islamic Finance
Unique Opportunity – Economic and
Social Responsibility
Empower Muslims whatever they are in
the World
A Win, Win for all
Any Questions?
Mohamed Ibrahim
ADDRESS
3 RUTHERFORD WAY
WEMBLEY PARK, LONDON
HA9 OBP
TEL: 0203 0111703
MOBILE: 07960856435
WWW.MIADVICE.COM
[email protected]
[email protected]