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HS2 moves to reassure property owners with compensation plans

Computer generated image of HS2

Computer generated image of HS2

HS2 Ltd - the company behind the controversial Birmingham to London rail link which -if built- will pass close to Banburyshire villages including Culwortjh, Chipping Warden and Lower Boddington, today (Wednesday) announced plans to compensate property owners.

The measures backed by the Government include an Express Purchase scheme for owner-occupiers living within 60 metres of the line under which the government could buy properties at full market value and compensate owners for moving expenses and stamp duty. A Rent Back option will be available for those who want to sell their properties but continue living in them and an Exceptional Hardship scheme for those who are unable to sell their homes because of HS2.

Other measures include a Voluntary Purchase scheme for owners in rural areas up to 120m away from the proposed track which may be introduced after a short consultation and a Cash Paymnet scheme where owners who do not move can receive a one-off cash payment. Let us know how this affects you by posting on the Banbury Guardian Facebook page at www.facebook.com/banburyguardian, or Tweeting us @banburynews

 

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