Housing Schemes
The Help to Buy is available to first time buyers only who are building a new home or buying a home in a new development and need help with a deposit.
The Local Authority Affordable Purchase Scheme helps prospective purchasers to buy a new home at a reduced price by taking an equity in the property which can be fully bought out at a later point when the purchaser is in a better position to do so.
The Vacant Property Refurbishment Grant is a new scheme introduced by government if you are turning a vacant house or building built prior to 2007 into your permanent home or a rental property.
The First Home Scheme is a new government backed shared equity scheme aimed at bridging the gap between the maximum mortgage a purchaser can attain through a participating lending institution and the cost of a new home. This equity stake can be fully bought out at a later point when the purchaser is in a better position to do so.
A Local Authority Home Loan is a Government backed mortgage for first time buyers and fresh start applicants. It can be used to purchase a new or second-hand property or for self-build. A Local Authority Home Loan provides up to 90% of the market value of the property.
This is a new tenure type based on the Vienna model which gives tenants long term secure rental agreements of up to 40 years at discounts of at least 25% on market rent.
Social Housing is a term used to describe housing which is built and managed by Local authorities and Approved Housing Bodies. It is primarily for people who cannot afford to buy a home or rent accommodation privately.
HAP is a form of rent support provided by local authorities to those who qualify for social housing and are renting privately while awaiting a social housing allocation. Under HAP, local authorities will make rent payments on behalf of the HAP recipient directly to the landlord. The HAP recipient then pays a differential rent contribution (based on income) to the local authority.