Housing association tenants being given the Right to Buy their homes should not have discounts. Instead, they should be offered equity loans.
The proposal comes from cross bench peer Lord Bob Kerslake, who is tabling an amendment to the Housing and Planning Bill.
Under current proposals, housing association tenants would be given a discount of up to £77,900 outside London and £103,900 in London.
The expansion of Right Buy is due to come into effect next month.
The policy, as it currently applies to council homes, is also due to come under the spotlight next Monday in a Channel 4 Dispatches programme.
Called Council House Millionaires, it is set to highlight the properties bought at discounts by their former tenants, who then move out and use their ex-homes as buy-to-let cash cows.
The programme is also set to expose companies that encourage existing tenants to cash in.