The council is under no obligation to provide nonresident homeowners with a new home. Lambeth is experiencing an extreme housing shortage. The council cannot therefore offer non-resident homeowners an ability to acquire a new home for anything other than full market value.
Where new homes are built for market sale, then non-resident homeowners will be able to acquire one of the new properties at full market value. Non-resident homeowners will be compensated as set out in the Key Guarantees.
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