How Does It Work?
If you are a social housing tenant for 2 years or more and live in family size accommodation then you might be eligible for a grant of up to £60,000 to buy a home on the open market.
Applicants will need to complete an application form and will receive a step by step guide to understand the process for the cash incentive scheme. Applicants will be subject to eligibility checks and a reference check as part of the application process.
Once all the checks have been completed applicants will be approved for the cash incentive grant and can start to look for their new home to purchase.
Eligibility Criteria for Cash Incentive
- Tenant has been a social housing tenant for 2 years or more and has a local connection to the borough.
- The tenant/s are occupying a family size property
- The tenant/s work full time or more than 16 hours per week and have an income of minimum £20,000 and £60,000
- The tenant/s have a good credit history (Experian check)
- The level of grant will depend on the property value, the mortgage offer amount and the savings that applicants have
For more information on this scheme please visit: Customer Downloads where you can find information on the Cash Incentive Scheme and the forms you will need to complete.