Transfer notes

No one involved in stock transfer can fail to appreciate the political and personal sensitivities. It is never easy for tenants to swap tenures. But it is sometimes breathtaking that vast amounts of potential investment are turned down.

Even in Birmingham, where there was more than £1bn of assured funding available, comments in the housing press suggested that tenants simply did not believe the message. It came down to a failure of confidence.

It is all very well pointing out that 150 transfers have already been completed and that the promised investment has materialised. The message gets lost in the fog of mistrust. Somehow, the proverbial ball needs to start rolling.

Tower Hamlets in London got an estates renewal programme under way with grant funding from the government many years ago. A review and a consultation on possible stock transfers are now under way. Likewise, in Liverpool, initial transfers changed the climate and more investment is in prospect. The fog lifts when demonstrable improvements are made and tenants' rights are respected.

Let us hope that, building on these examples, the Office of the Deputy Prime Minister's new mix-and-match approach will give the ball a push downhill.