Housing Association Property Rights?

fruitcake_2

I'm hoping someone on here will be able to clear up some questions as the HA that I have asked seems completely uninterested and have no knowledge on any issue...I feel like I'm educating them!!

We have been living in a HA flat for over ten years, we would love to be able to get our foot on the property ladder.

Residents before us have "apparently" had money given to them for moving out, so they could put it as part payment for their deposit, as much as 25%. There have been other incentives offered as the area that the property is in is well sought after and thers a three year waiting list to get in.

We have asked for information regarding this, but keep getting told different stories from various staff at the HA, none of it is consistent and they will not give us anything in writing other than a leaflet on half share half rent properties.

Does anyone know if there is a standard document we are entitled to look at or where we can request to get any clearer information. It all seems a little too cloak and dagger when we try to go directly to our HA?

lynzpower

which HA is it

Some do, some dont Sometimes is the local authority that actually pays the money to you for moving out of the HA place, if they are nominating to that HA from thier waiting lists

fruitcake_2

Thanks lynzpower, It's NCHA - Northern Counties - how do I find out if they do?

cattie

It's probably best to phone the local council & ask if they have any tenant incentive schemes running at the moment.

As lyn says, some areas run these schemes from time to time, some don't. But when they are run there is a certain pot of money allocated to pay tenants to move out & buy their own property, but once that money has run out then thats it.

A friend of mine got on the property ladder this way some years back now. I think she got about £20,000 towards her deposit to vacate her 2 bedroomed maisonette. However that local authority no longer has such a scheme running as it was only in operation for a short while.

They now offer a scheme where they will offer you a smaller council/ha property if you have too many bedrooms & pay you around £300 per bedroom they gain + removal fees. Not such a good deal at all.

suki1964

The HA I was under ran that scheme for a few years, as cattie says its was on a first come first served and once the money was done, that was it - re-apply another year. I tried for three years without success

The scheme I finally got on the HL with was their DIYSO. Not only could I just go out an pick any house on the market they paid all removels, solicitors and gave us the first year rent free Mind I had very strict deadlines, 6 weeks start to finish

They no longer do DIYSO now

HA's are limited by what schemes they run by goverment funding. This Govt is a strong supporter of SO so thats where the money is being given SO on new builds

fruitcake_2

suki1964 wrote:

The HA I was under ran that scheme for a few years, as cattie says its was on a first come first served and once the money was done, that was it - re-apply another year. I tried for three years without success

The scheme I finally got on the HL with was their DIYSO. Not only could I just go out an pick any house on the market they paid all removels, solicitors and gave us the first year rent free Mind I had very strict deadlines, 6 weeks start to finish

They no longer do DIYSO now

HA's are limited by what schemes they run by goverment funding. This Govt is a strong supporter of SO so thats where the money is being given SO on new builds

Can you tell me what an SO is please?

cattie

It is shared ownership & priority is given to keyworkers & first time buyers.

The housing association sells you a share of the property, say 40% & you get a mortgage for this part, the remaining 60% you pay rent on, but have the opportunity to 'staircase' & buy further shares in the property as and when finances permit you to, till finally you own the property outright. Even if you chose never to staircase, you can always sell the property when you decide to move on & the proceeds will be split between you & the housing association as per percentage owned.