Social Homebuy

Social Homebuy will provide new opportunities for existing social tenants who cannot afford the Right to Buy or Right to Acquire. (The overall cost for comparison is 8.2% APR. The actual rate available will depend on your circumstances. Please ask for a personalised illustration. Rate correct as of 07/06/2008)

Basically a social tenant will be able to purchase an equity share in their property and also benefit from a discount on the properties value. It can almost be viewed as a halfway house between Right to Buy and Shared Ownership. A minimum initial share of 25% applies and a normal market rent will be charged on the share held by the Housing Association.

A number of Housing Associations have been assisting the program since April 2006 and we have been asked to Support it to ensure interested applicants get clear information on their financial requirements and options.

A very select number of lenders have said they are willing to assist and we will of course be on hand to help you locate the most appropriate mortgage for your individual circumstances thus ensuring you get access to the best rates and terms.

Our normal fee of £299 is waived in connection with housing association house purchases.

Imperial Independent Mortgage Services Ltd is an Appointed Representative of Personal Touch Financial Services Limited which is Authorised and Regulated by the Financial Services Authority.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.