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Accord moving into right to buy sector

Accord is set to enter the right-to-buy market in September after getting authorisation to operate in England, Northern Ireland and Scotland.

It is waiting for authorisation from the Welsh Authority, which is expected in August.

Accord managing director Linda Will says the RTB market is coming back into vogue. She says: “A lot of the remortgaging right-to-buy market is actually sub-prime and, being a sub-prime player of some size, we felt it was a hole in our armoury.

“With the sub-prime portfolio growing nicely, it was an obvious thing to do. It is not a huge market but there is business there. If you are a serious player in the sub-prime market then you want to make sure you cover off all the eventualities. It is not business-transformational, it is more gap-filling.”

Last week, the Government revealed plans to build 240,000 new homes a year by 2016 as part of its ambitious housing plans. Housing minister Yvette Cooper has called for all new blocks of flats to contain a mix of social housing and privately owned apartments.


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