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THE MINISTRY OF DEFENCE has lost billions of pounds flogging off soldiers’ accommodation that later soared in value, auditors have revealed.
In 1996 the MoD sold off 55,000 married quarters to Annington Property Ltd for £1.66bn and then rented them back from the housing company. The sale made Annington one of the largest private owners of residential property in Britain.
More than 20 years on, the department is still shelling out £178 million a year in rent for 39,000 of those homes it sold off, according to the National Audit Office (NAO) study.
Social Housing Action Campaign blasts PM’s decision to break commitment to allocate 100% of Affordable Homes Programme to social rents
CLAUDIA WEBBE argues that Burnham’s U-turn on tackling greedy landlords has let the country down
‘Rent freezes are not a way forward at the moment,’ Housing Secretary Angela Rayner says