Housing experts have warned that a new government initiative to encourage people to get on the property ladder could place councils under further financial strain.

The chief executive of the Chartered Institute of Housing, Grainia Long, said the discount of up to £75,000 for social tenants to buy their council home under the Government's relaunched Right to Buy scheme might not represent value for money. The new discount limit is four times higher than the current level in London, and three times higher than in most other parts of the country.