The council is under no obligation to provide non-resident 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. The Key Guarantees provide for the acquisition of non-resident homeowner properties at market value plus 7.5% homeloss payment. The Council will not be compensating you for any loss of rental income.
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