High Speed Two (HS2) aims to provide Britain's railways with new capacity, better connectivity and quicker journeys. Lines will eventually connect London Euston with the English Midlands, North West England, Yorkshire, and potentially North East England and the central belt of Scotland
Residents living in rural locations near to Phase 1 of the HS2 line can take advantage of new compensation schemes recently announced by the Secretary of State for Transport: the Voluntary Purchase Scheme (VPS) and Need to Sell (NTS). The new initiatives could be particularly good news for those who need to sell but who didn’t previously qualify under the old schemes.
Voluntary Purchase Scheme (VPS)
This scheme is available in the Rural Support Zone (RSZ), which is classed as rural areas outside of the safeguarded area and up to 120m from the centre of the proposed railway line where the line runs above ground. Eligible owner-occupiers are able to ask the government to buy their property for 100 per cent of its unblighted market value, as assessed by two independent valuers.
Need to Sell (NTS)
Owner-occupiers who fall outside the VPS boundaries may be eligible for the NTS scheme. They can request the government to purchase their property for its full-unblighted market value under the Compelling Reason to Sell criteria. These include, but are not limited to, unemployment, relocation for a new job, ill health, dividing assets as part of a divorce settlement, or the need to release capital for retirement. Applications where there is need to move within the next three years will be considered.