Social HomeBuy is a government sponsored scheme which allows some current social housing tenants to purchase their current property with a discount– either outright or from a minimum 25% share.  If you initially purchase a share, you are able to purchase further shares in the property until you own 100%. A rental payment is due on the share you do not own.  You will need to check with your landlord to see if they are participating in the scheme.

The discounts available vary from area to area and reflect the cost of housing in that particular local authority area.  For example, the maximum discount available if you purchase 100% of the property is as follows:

• All of Hertfordshire - £16,000

The amount of the discount available will reflect the same percentage of the shares you buy, e.g. if you purchase 100% of your property in Herts, you will receive the maximum discount of £16,000.  If you purchase 50% of your property in Hertfordshire you will receive 50% of the maximum discount i.e. £8,000.

You need to be a Secure or Assured tenant (not Assured Shorthold tenants and long leaseholders) and have been a social housing tenant for a minimum of 2 years – however if your tenancy was granted after 18 January 2005, the minimum time you must be a tenant prior to applying is 5 years. Your landlord must be participating in the scheme.

You must have an up-to-date rent account, and no Anti Social Behaviour or breaches of tenancy against you.  

If you have already purchased a property at a discount from a Public Sector landlord, or if you are an un-discharged bankrupt, you may not apply.

No – while many properties are eligible there are a number of properties that are exempt from this scheme – these include Supported Housing schemes, Sheltered Housing Schemes, rural or difficult to replace properties, some properties that have had Aids and Adaptations fitted after an Occupational Therapist assessment (excluding some minor adaptation like grab rails and/or stair lift), and properties in schemes that are being developed or are due to be redeveloped.  There are other property exclusions which your landlord will be able to inform you of.  

If you sell your property at any time within 21 years, your landlord  must be given the first refusal to buy back your property.  They will keep a waiting list and may nominate a purchaser from this list to purchase your property.

If you have purchased your flat and are unable to afford the mortgage and have got into difficulty with your payments, your social landlord may buy your flat back from you.  This does not apply to houses.

The rent should be set at between 2.75% and 3% annually of the unsold equity.  This payment is then divided into 12 monthly payments.

Once you purchase your property or a share in your property, you will be liable for your repairs and maintenance.  The exception to this is if you purchase a flat – in this case your landlord will still be liable for all communal areas, roof space and the external fabric of the building, you will be charge a service charge to cover this.