In the last edition of Connections, we updated you on the Right to Buy pilot taking place in the West Midlands.
Several of you have now asked about other schemes available to help you buy a property:
Right to Acquire
Right to Acquire allows most housing association tenants to buy the home they live in at a discount between £9k and £16k.
London Living Rent
London Living Rent (LLR) has been introduced by the Greater London Authority (GLA) to help middle-income households in London who now rent and want to build up savings to buy a home. To be eligible you must be renting in London, have a household income of less than £60,000 and be unable to currently buy a home (including through shared ownership) in your local area.
NHG has a number of LLR schemes, and properties will become available over the coming months. All available properties, from both NHG and other housing providers, are advertised on the GLA website (you cannot apply directly to NHG).
Shared ownership is a government backed scheme designed to help you get on the property ladder and make buying a home more affordable. With Shared Ownership you buy a share in a property – from 25% to 75% of the full market value – and pay us a lower-than-market rent on the remainder.
Because you only have to put down a deposit on the share you buy, you won’t need to save as much as you would if you were buying outright.
You may be eligible if you do not already own a home and your household income is less than £90,000 (if you're buying in London) or £80,000 (if you're buying outside of London).