Compulsory purchase thresholds revised

Compulsory purchase thresholds revised

Friday, July 11, 2003

A fairer system of compensation will apply to people whose homes are compulsorily purchased, Planning Minister Keith Hill said today.

Home loss payments are made to people whose homes are bought compulsorily for all types of development, including large-scale regeneration projects.

In addition to receiving the market value of their home plus disturbance compensation, owner-occupiers also receive a home loss payment of 10% of the market value of their property, subject to maximum and minimum thresholds.

From 1 September 2003, the maximum home loss payment to owner-occupiers displaced from their home will increase from £15,000 to £31,000 and the minimum payment will increase from £1,500 to £3,100. The flat rate for tenants will increase from £1,500 to £3,100.

Keith Hill said: "It is only fair and just people are compensated when they have to leave their homes. The current thresholds for home loss compensation are out dated and it's important we make this change.”

"Compulsory purchase is an important tool in regenerating our towns and cities. It can help with the building of new hospitals and schools. But it doesn't always seem like that to people whose homes are compulsorily purchased. We need to make sure they get a fair deal too."

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