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New Developments and changes to law re Cuckoo Investmennt fund purchases

  • 18-11-2021 10:47pm
    Registered Users Posts: 37 Jade2015

    What are the new laws if any regarding 'Cuckoo Fund investors' purchasing 100% of a new development and leasing the units to the County council who then are allocating these houses for social housing.

    Example: A new development of residential houses 4 in total sold recently to an investor. There are only 4 houses in total in the new development. Can all 4 houses be leased to the council.

    Can the council allocate all these houses as social houses if it is part of an existing estate.

    Does the existing part V Development Law of only 10% of houses to be allocated to social houses stilk apply if an investor buys all the houses.

    Does a percentage of the houses now have to be open to owner occupiers to buy?

    We were hoping to buy a new build house in an estate, but we have found out an investor has bought all 4 units and council tennents moving in to all 4 units