For Sale 1 bedroom flat
Property value £160,000
Share percent 40%
Share percent price £64,000
Social HomeBuy
Under this scheme, Swaythling Housing Society tenants can purchase their current home outright or on shared ownership terms. You can purchase a minimum initial share of 25% of a home (rising to a maximum 100% share). The landlord will charge a low rent on the remaining equity calculated at about 2.75% of the retained value.
You will be able to buy further shares later on if you wish.
You are entitled to receive a discount on the initial share of the purchase. This discount is equivalent to that available under the Right To Acquire and is currently set at a level between £9,000 and £16,000 depending upon the local authority in which the property is located, pro-rata to the share purchased.
Social HomeBuy allows tenants to buy 100% of their property with a discount where they can afford to do so.
Not everyone will be eligible though and you will not be able to proceed if you have rent arrears, for example and some properties will not qualify, for example those in rural areas.
The following discounts are available depending where you live:
Local Authority Area |
Maximum discount (on purchase of 100% outright) |
|
Fareham Gosport Portsmouth Southampton Poole Test Valley |
£11,000 |
|
Basingstoke & Deane East Hampshire Eastleigh New Forest Salisbury |
£13,500 |
|
Rushmoor Winchester |
£16,000 |
For more information and an application pack contact our Customer Service Team at homesinhants@swayhs.org.uk or alternatively you can download an application form by clicking here.
Fareham Borough Council tenants please click here for a Social HomeBuy Application Form.
