Stock transfer and Circle

The advantages of transferring local authority owned housing to a respected and established housing association such as Circle (formerly Circle Anglia) are numerous.

Housing Associations don’t pay money back to the Government to fund social housing nationally and are also able to borrow money. They therefore have more money to spend on housing, community improvements and services.

Circle’s stock transfer record

• Circle has an enviable success rate when it comes to stock transfers, attaining a yes vote across twelve separate ballots.
• Six of the partners that form Circle were established through successful stock transfer.
• Stock transfers in Fenland, Mole Valley, Tower Hamlets and Mardyke have added nearly 11,000 homes to the Circle Group in the past year alone.
• Circle's expertise in regeneration ensures that complex, long term schemes are viable.
• Over 320 staff have transferred to the Circle Group from local authorities.

Stock transfers nationally

• Nationally tenants have voted ‘yes’ to transfer in 80% of ballots (Department for Communities and Local Government)
• No housing association has ever broken rent commitments made to tenants at the time of transfer (House of Commons written answer to Austin Mitchell MP, June 2005)
• 82% of tenants who transferred to a housing association were satisfied with their landlord – 13% higher than those still in council homes.(Status Surveys 2004, surveying 12,000 housing association tenants and 9100 council tenants)

 

05/01/09 17:54