HOLD (housing options for the disabled)
If you have a long-term disability, the HOLD scheme could help you buy a home for sale on a Shared Ownership basis. You could buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share.
You may be eligible for the HOLD scheme if you have a long-term disability and meet the following criteria:
- Your household earns £80,000 a year or less
- You are a first-time buyer, you used to own a home but can’t afford to buy one now or are an existing shared owner looking to move
- The homes available in the other shared ownership schemes don’t meet your needs, e.g. you need a ground-floor home
Only military personnel will be given priority over other groups through government funded Shared Ownership schemes.
What do I do next?
To check you are eligible you can apply for Shared Ownership and we will assess you. DLA is taken into account when assessing affordability.
If you feel the HOLD scheme would benefit you its then up to you to search for a suitable second hand property on the open market. You then need to approach a local Housing Association with the prospect of buying this property under the HOLD scheme.
If willing, the Housing Association then applies for HOLD grant funding and if received can then sell the property to you on a Shared Ownership basis*.
At this point if you need support with a mortgage or the purchase you can contact My Safe Home: http://www.mysafehome.info/contact-mysafehome
Applicants are strongly advised to get independent financial advice on what assistance may be available to them, and their ability to afford Shared Ownership.
* Note HOLD is not available as a right and participation of providers to make HOLD available is entirely at their discretion.
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