Prime Minister Boris Johnson has announced that he plans to bring back a scheme which will enable tenants to buy the homes they rent from housing associations to help young people get on the housing ladder.

Boris Johnson told officials yesterday evening that the proposal is to be developed to help 'generation rent'.If successful, the plan will give the 2.5million households in England who rent properties from housing associations the chance to purchase them at a discounted price.The scheme is similar to the 1980 action by Margaret Thatcher which allowed families to buy homes from councils.

Officials are believed to be considering the use of taxpayer money paid out in housing benefits to help renters secure mortgages.

Downing Street believes that the new version of Right to Buy would help poorer households own property.

However, some have begun criticising over whether the prices will still be too high and therefore would not solve the housing shortage. A government source said: 'The Prime Minister has got very excited about this. In many ways it is a replica of the great Maggie idea of 'buy your own council flat'. It is 'buy your own housing association flat.'

Current Right to Buy rules lets the majority of council tenants buy their homes at a discount. However, housing-association tenants have limited discounts at this time.

The plan to widen the scheme to all housing association tenants was actually included in the 2015 Tory election manifesto. However, it has failed to materialise until this point.

Former Prime Minister, David Cameron's government increased the discounts available to council tenants looking to buy their homes to £75,000 and £100,000 in London. Now, Boris Johnson is eager to make it easier for younger people to get on the housing ladder.