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Friday, April 17, 2015

Council tenants can get £20,000 grant to buy their own home

West Lancashire Borough Council tenants, who are eligible to buy their home but do not want to buy the property they live in, can apply for a grant of up to £20,000 to help them onto the property ladder.

The scheme is called “Getting on the Ladder – Your Help to Home Ownership”.

Eligible tenants can apply for a one-off cash payment, not exceeding £20,000 which would replace the ‘Right to Buy’ discount the tenant is entitled to. This means if successful they must put the payment towards buying a home on the open market, thereby freeing up their home for another applicant on the Housing Register.

Funding is aimed at tenants who are able to support a mortgage but may not want to buy the property they are living in.  For example, this could benefit older people who want to buy smaller properties or be nearer their family, or someone looking to move to take up a job opportunity.

Any tenant who is interested and thinks they could qualify should e-mail Admin-Housing&Regen@westlancs.gov.uk or call Property Sales on 01695 585211.

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