Dear Sir,

I am a home owner on the estate. I’ve lived here for nearly 19 years – owning the property for approximately 12 of these years, having bought under the right to buy scheme.

I am not specifically opposed to option 3 (or even a CPO) – as long as I am not financially disadvantaged and compensation is provided which reflects the money, time and energy that has been invested in my home. The area itself is in need of some regeneration (although as others will no doubt point out it is far from the dilapidated derelict expanse that one usually associates with CPO’s.

However, one of my main concerns is that as my home is located within an area that has been very publicly declared in need of regeneration – I would struggle to sell it for market value anyway – meaning that if the plans do not go ahead, my equity will vanish regardless – creating a catch 22 situation!

What I feel is required is a micro-level approach whereby Livin representatives visit each and every household involved (tenant and home-owner) and discuss in a very open and transparent manner their plans for the estate, time-frames involved and the processes by which the plans will operate.

This would allow direct conversation and offer the individual the chance to highlight their hopes, concerns and requirements. This would also provide Livin with an opportunity to examine how many people want to return to the area following regeneration (as some tenants will naturally resettle elsewhere a reduction in numbers of properties on the estate may not then be an issue – but until the questions are asked it is all speculation and cause for concern).

Some home-owners may wish to take this opportunity as a reason to sell and move to new horizons (again freeing up more potential plots). Others (tenants and home-owners) will no doubt wish to be provided with like for like accommodation – Livin should also be prepared to match or negotiate here (it is not fair or reasonable to ask those who are now mortgage free to start all over again, incurring debt they had not planned for).

In addition, options such as; selling early in the process and renting back your property (to allow home-owners time to reflect on potential capital to invest elsewhere or following regeneration); up-scaling / down-scaling of property sizes and re-location costs should all be made available for discussion.

All in all an individualised approach which offers transparency and options are key to these plans (whichever option is utilised).

Home-owner

Name and email supplied