Affordable property purchase schemes
Lambeth and some Housing associations have various ways of helping tenants become a home owner.
If you are a secure Lambeth Council tenant and want to buy a home on the open market in the UK, we might be able to help through our 'Cash Incentive Scheme'.
The Homebuy scheme is run on behalf of the council by Tower Homes, and enables Lambeth tenants to apply for an equity loan (25% of the purchase price) to help you buy a home of your own on the open market.
Most of Lambeth's secure tenants have the 'right to buy' their homes. To buy your home you must have been a secure tenant for at least two years. You need not have spent the two years in your present home or even with Lambeth. You can count your tenancy with another council or other public sector landlords.
Shared Ownership refers to part-buy, part-rent schemes that are operated by housing associations. They offer a way to buy what you can afford immediately, so you don’t have to stretch yourself financially. As time goes by, you can buy a bigger share of the property until you own it outright.
The Social HomeBuy (SHB) scheme provides new opportunities for tenants, who do not have the Right to Buy or Right to Acquire or who cannot afford to buy their property, to buy a share in their rented home.