Social Homebuy
Social HomeBuy offers some housing association tenants the opportunity to buy a share of at least 25% in their home. Rent is payable on the remaining share set by the landlord to a maximum of 3% per annum of the equity retained by the landlord. For example:
• Purchase price is £100,000
• tenant purchases £25% - £25,000
• rent is calculated using a percentage of the remaining £75,000,
(2.75% would be £2062.50 per annum, or £39.66 per week).
Tenants who buy through Social HomeBuy become leasehold owners and are responsible for the management and ongoing maintenance costs of the property
You will need to contact your own landlord to see if they are operating this scheme where you live.
