This document outlines the eligibility requirements for a social homebuy scheme. To be eligible, applicants must have a total household income lower than £60,000 per year. Priority is given to those giving up social housing and key workers. Applicants must have no rent arrears in the last 6 months, a minimum income of £18k, not own another property, have been a social housing tenant for at least 2 years, been with the housing association for a minimum of 2 years, and have no tenancy breaches. The scheme provides a discount of up to £16,000 on property purchases depending on location.

1. 1

2. 2

3. 3

4. 4

5. New build or resale Leasehold property –
Homebuy Agent will check the eligibility:
Anyone who cannot afford to buy a suitable home on the open market may apply as
long as their total household income is lower than £60,000 per annum.
Priority is given to those who are giving up a Local Authority or Housing Association
tenancy and to key workers who meet the Government's eligibility rules. We also
consider if the person works in the borough where the property is to be sold
No arrears for 6 months prior to application
Must be working, Minimum income £18K
Must not own or live in another property
Social Housing Tenant for at least 2 years (5 years if the tenancy
started after 18.1.2005)
Minimum 2 years with FM
Social Homebuy is only available to our Assured or Secure Tenants
(Not Shorthold Tenants)
No breaches of tenancy
This is a voluntary scheme – you do not have the right to purchase
your home using this scheme.
When you apply we will check whether your home is suitable as part of
the eligibility assessment.
LEAFLETS – NEW BUILD HOMEBUY
‐ Social Homebuy
5

6. No arrears for 6 months prior to application
Must be working, Minimum income £18K
Must not own or live in another property
Social Housing Tenant for at least 2 years (5 years if the tenancy
started after 18.1.2005)
Minimum 2 years with FM
Social Homebuy is only available to our Assured or Secure Tenants
(Not Shorthold Tenants)
No breaches of tenancy
This is a voluntary scheme – you do not have the right to purchase
your home using this scheme.
When you apply we will check whether your home is suitable as part of
the eligibility assessment.
This depends on where you live. The maximum discount
available in Family Mosaic’s operating area ranges from £11,000
up to £16,000.
If you buy a share in your property, the discount will be
calculated at the
same percentage as the share you are buying.
For example:
6

7. If the full discount is £16,000, you can expect to
receive the following discounts if you buy a share:
• 25% £4,000 • 50% £8,000 • 75% £12,000
6

8. Shared Ownership agreements prohibit subletting by the owner
to protect the public funds and ensure applicants are not
entering in to affordable home ownership for commercial gain.
For residents who purchased their property
under Social Homebuy scheme- The whole point is that it is the
persons main home which they have bought with the benefit of a
Grant. We have to protect the grant funding for the 5 years,
therefore they are not allowed to sublet within this period. If
they wish to rent out and are 100% owners then the following
applies:
The lease they sign states that we will consider
letting in the same way as we do for shared owners with our
reasonable costs and disbursement paid. So for a short period
with a suitable reason – work sabbatical etc. The difference with
Social Homebuy tenants is that they have to provide a copy of
the tenancy agreement with their request to sublet.
If they have a flat there is a sub clause within
the lease which says that if they wish to sublet then they have to
also provide a copy of the tenancy agreement and pay Family
Mosaic 1% of the monthly rent. This doesn’t apply to houses.
7

9. 8

10. 9