There are a number of schemes available for people who cannot afford to buy a property on the open market. The Council runs the New Build Homebuy scheme in partnership with Housing Associations.
If your annual household income is less than £66,000 (for 1 or 2 bedrooms) or £80,000 (for 3 bedrooms) you may be eligible for home purchase. Generally you will need to be able to demonstrate your mortgage capability and have the savings to cover all costs.
Priority for affordable housing will be given to existing social housing tenants, serving MOD personnel and Key Workers who provide services for the people of Richmond upon Thames.
FIRST STEPS is the official intermediate housing programme from the Mayor of London helping low and modest income Londoners to buy or rent at a price they can afford.
You can complete just one application form to access a range of affordable shared ownership and equity loan schemes being marketed in London. It is also possible to find rented accommodation that charges rents that are lower than on the open market.
Visit the FIRST STEPS website for more information and to register.
Housing Association tenants can buy their home on a part-buy part-rent basis, and receive a discount on the initial purchase price. This scheme is called Social HomeBuy and the eligibility levels are usually set up by your Housing Association. It is not a statutory scheme and not all landlords will currently be offering this assistance.
You will need to contact your Housing Association for more information.
If you need any help or have any questions or comments, please contact the Housing Provision Section.
44 York Street
Telephone: 020 8487 5454