Priority for Home Ownership
If you will be giving up an assured or secure tenancy with
Family Mosaic, we consider you a priority for low cost home
ownership. You can apply for any of the shared ownership or
resale properties advertised on this website. Please note
that you may not be considered a priority if you apply for a
property outside the borough you currently live or work in.
If you are interested in buying the home you currently live in,
one of the following three options may be suitable:
Social HomeBuy
Social Homebuy is a Government scheme which allows some tenants
to buy their home. It is a voluntary scheme and a more
flexible alternative to the Right to Acquire.
We offer funding on a first come, first-served basis to
qualifying tenants for as long as we have discount money
available.
If you can't afford to buy outright, you will be able to part
buy shares from 25% and you will pay a discounted market rent on
the remaining share calculated on the value of your home. You
will be responsible for the upkeep of your home when you buy, even
if you only buy a share. If you buy a flat, this will mean
you will become responsible for a monthly service charge. The
part buy, part rent scheme is also known as shared ownership.
The discounts available vary according to the borough in which
you live and range from £13,000 to £16,000. If you buy a
share in your home the price of your share is calculated after the
discount is deducted from the full value.
Downloads:
Social Homebuy Booklet
Social Homebuy Application Form
For more information about the part buy, part rent scheme please
download our
New Build HomeBuy booklet.
Right to Buy
You can only apply for the Right to Buy
if your tenancy agreement explicitly states you are eligibile to do
so. Contact your housing officer to find out if you
qualify. This normally only applies if you were formerly a
council tenant.
Under the Right to Buy scheme, you can
buy your home at a price lower than the full market value. This is
because the length of time you have spent as a tenant entitles you
to a discount.
The discounts are the same as for
Social HomeBuy, but you do not have the shared ownership
option.
Download
the Right to Buy Booklet
Right to Acquire
This is the similar as the Right to Buy scheme but the
qualifying criteria is different.
To find out if you and your property are eligible you will need
to submit an application form which can be
downloaded here.
