Housing Incentive Scheme

What is it?

This scheme provides grants to help our tenants to buy homes in the private sector. This helps us to release our properties for other tenants.

Who can apply?

You can apply if you:

• have been our secure tenant for more than two years;
• are up to date with your rent; and
• live in family acommodation with two or more bedrooms.

How to apply

As well as the conditions already listed above, the following rules apply.

• you must provide proof of a building society or bank mortgage offer showing the highest amount you can borrow
• you must buy a property which is large enough for your needs
• the property must be freehold or, if leasehold, have at least 21 years left to run.
• the property must be in the UK
• we will work out the grant based on:
• the price of the property you are buying; less
• your savings; less
• your mortgage
• we will pay the grant to your solicitor when the sale goes through or you move out of our property, whichever is later
• you must give 2 weeks' notice from when you exchange to completion.
• you must pay back the grant if you return to council or Registered Social Landlords (formerly Housing Association) accommodation within 3 years
• we will give priority to people living in accommodation which is:
• in short supply;
• in high demand areas; or
• larger family accommodation
• you may be required to pay back the grant if you remortgage.

Current maximum grant

• after 2 years' secure tenancy £ 3,308
• after 3 years' secure tenancy £ 6,615
• after 4 years' secure tenancy £ 9,923
• after 5 years' secure tenancy £13,230.

Maximum property purchase price: £80,000

You must buy the property before: 28.02.2003

Download an application form (PDF - 90k)