This gives local authority and housing association residents the opportunity to buy their home the affordable way.
This gives some local authority and housing association residents the opportunity to buy their home the affordable way. Metropolitan Housing Partnership is piloting this initiative on the estates shown below.
Social HomeBuy allows Council or Housing Association residents to buy their home on a part buy, part-rent basis receiving a discount on the price of the property.
- The minimum share you can purchase is 25% and if you can afford it, the property can be bought outright at the outset
- You can buy a further share as soon as you can afford to and get further discount depending on the percentage share you buy
- If you come to sell the property within the first 5 years the Council or Housing Association will have the chance to buy it back at market value or nominate another person to buy it but you will have to pay back some or all of the discount.
Who can buy?
Not all MHT residents are able to buy using Social HomeBuy, you will need to contact the Residential Sales team to find out if you are eligible to apply; email SocialHomebuy@mht.co.uk or call 020 8920 7777 to find out more.
Not all Councils or Housing Associations offer this option. To find out if yours does and whether you are eligible, please contact your Housing Officer. As a rule, residents who are facing legal action for anti-social behaviour or breaches of their tenancy agreement cannot take part.
