Affordable Housing Schemes
Queens Speech - Right to Buy
In the Queen’s Speech the government announced a Housing Bill to include an extension to the Right to Buy to housing association homes. The Housing Bill will still need to be passed through parliament to become an Act which can take up to a year, and as such we don't yet have any details about who'll be eligible and how much the discounts will be. We already have a voluntary scheme called Social Homebuy that offers tenants the ability to buy outright or on a Shared Ownership basis and we do offer discounts to assist this, according to percentage of the home bought. Tenants can get further information through the Customer Care Line on 0300 123 3456, or by emailing Resident.Sales@familymosaic.co.uk.
Priority for Home Ownership
If you will be giving up an assured or secure tenancy with Family Mosaic, we consider you a priority for affordable 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 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 up to a maximum of £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.
Right to Buy
Right to Buy is specific to Local Authority properties and only available to those tenants living in a Local Authority property on a secured tenancy or those whose property was transferred to Family Mosaic from the Local Authority as a result of a stock transfer. In the case of Family Mosaic, these include some of those tenants who were living in their property when it was:
- transferred from the London Borough of Greenwich to Charlton Triangle (tenant in the same property pre 31st March 1999);
- transferred from the London Borough of Hammersmith & Fulham to Old Oak Housing (tenant in the same property pre 31st March 1999);
- transferred from the London Borough of Kensington & Chelsea to Thames Valley Housing Association which were then transferred to Family Mosaic (with this option you must provide a letter from the London Borough of Kensington & Chelsea that you were an eligible secure tenant of the Local Authority for RTB).
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.
Right to Acquire
This is similar to the Right to Buy scheme but the qualifying criteria is different.
For more information and to see whether you meet the qualifying criteria for any of the options above, you can contact our team by email at firstname.lastname@example.org or speak to us on 020 3478 9875.
Affordable Home Ownership Schemes in the UK
We explain how each affordable home ownership schemes work and whether you could be eligible. These schemes include Shared Ownership and Help to Buy products.
Changes to affordable home ownership
We’ve asked one of our panel Mortgage Advisers, De Havilland Group Limited, to discuss the Government's recent announcement of the following measures to boost affordable home ownership.