Social HomeBuy will provide
new opportunities for existing social tenants
who can't afford or don't have the Right to
Buy or Right to Acquire. The current Voluntary
Purchase Grant scheme for housing association
tenants is merged into the new scheme.
This scheme will allow a social tenant to buy
a share of the equity in an existing housing
association or local authority home, bought
at a discount.
Tenants will buy a minimum initial share of
at least 25% of a home. The remainder of the
equity will be held by the housing provider.
The landlord will be able to levy a charge of
up to 3% on their equity. A lower target average
for the charge will be set at 2.75%.
For more information about Social Homebuy please
contact us. Not all social landlords participate
in the scheme, applicant and property eligibility
criteria also apply.
