The compensation payable to displaced tenants and leaseholders under the Land Compensation Act 1973 increased on 1 October 2018. The Home Loss Payments (Prescribed Amounts) (England) Regulations 2018 will come into force on that date.
The sum due to tenants is £6,300 (an increase of £200 on the current figure). The sum payable to resident leaseholders is 10% of the market value of the leaseholder's interest in the home, subject to minimum and maximum thresholds. From 1 October 2018, those thresholds are now £6,300 and £63,000 respectively.
Home loss is payable where a person is displaced by the making of a CPO, due to regeneration by a housing association or, in the case of secure tenants, by reason of a possession order made under Grounds 10 or 10A (the regeneration grounds).
