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Search the Public Notice PortalHOMES could be bought for up to 20 per cent above their valuation, after East Lothian Council approved a new framework for housing acquisitions and disposals.
The policy, agreed at a recent council cabinet meeting, sets out how existing properties will be purchased and sold to make the best use of the housing revenue account, as the county continues to face the pressures of an affordable housing emergency.
Under the new rules, the council would normally seek to acquire homes at or below independent market or home report valuation.
However, in "exceptional circumstances", it can pay a premium of up to 20 per cent of the home's value where it shows a clear "value for money" and long-term strategic benefit.
For instance, this could include purchases that give the local authority full ownership of a mixed-tenure block, or acquiring adapted or accessible homes to meet people's needs.
Each home purchase or sale would be considered on a case-by-case basis by the acquisitions and disposals panel, and reviewed through the housing revenue account programme board, before receiving final approval under the council’s Scheme of Delegation.
Deals above the council's internal thresholds, including those over £350,000, would be heard by the council's housing committee
Profits from the sales of any council homes would be ringfenced within the Housing Revenue Account (HRA) and reinvested in future housing investment, which "increases, improves or sustains" the current stock.
Council homes would only be sold where keeping them no longer represented "best value".
This could be due to high maintenance costs, limited demand, a mismatch with wider housing priorities or blocks where the local authority is unlikely to become a majority or full owner, presenting difficulties with maintaining stock levels.
They said that sales would typically involve properties that were sitting vacant and on an as-seen basis.
Where a tenant was in situ, sales would be treated as an exception, requiring closer scrutiny, greater tenant involvement and legal advice.
The newly approved policy will work alongside the existing open market acquisitions process and the Scottish Government’s affordable housing supply programme.
It will also be reviewed every five years to ensure it aligns with the Local Housing Strategy (LHS) and any new Scottish Government legislation.
Councillor Andy Forrest, cabinet spokesperson for housing and property maintenance, said: “East Lothian faces growing pressures on its housing system.
"Demand for affordable homes continues to rise, driven by population growth, limited supply and increasing financial pressures on households.
"Reflecting these challenges, the council declared an affordable housing emergency in November 2024, recognising risks to affordable housing delivery from reductions in national investment and wider market constraints.
“While managing these challenges, we must ensure our existing housing stock meets statutory and regulatory requirements, including housing quality and energy efficiency standards.
"The acquisitions and disposals policy ensures purchases and sales follow clear criteria, sound financial assessment, strategic alignment with housing priorities and a firm commitment to value for money.
"It also supports council objectives relating to regeneration, climate action and the long-term sustainability of the HRA.”
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