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New build or resale Leasehold property –Homebuy Agent will check the eligibility:Anyone who cannot afford to buy a suitable home on the open market may apply as long as their total household income is lower than £60,000 per annum.Priority is given to those who are giving up a Local Authority or Housing Association tenancy and to key workers who meet the Government's eligibility rules. We also consider if the person works in the borough where the property is to be sold

No arrears for 6 months prior to applicationMust be working, Minimum income £18KMust not own or live in another propertySocial Housing Tenant for at least 2 years (5 years if the tenancy started after 18.1.2005)Minimum 2 years with FMSocial Homebuy is only available to our Assured or Secure Tenants (Not Shorthold Tenants) No breaches of tenancy

This is a voluntary scheme – you do not have the right to purchase your home using this scheme. When you apply we will check whether your home is suitable as part of the eligibility assessment.LEAFLETS – NEW BUILD HOMEBUY

‐ Social Homebuy

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No arrears for 6 months prior to applicationMust be working, Minimum income £18KMust not own or live in another propertySocial Housing Tenant for at least 2 years (5 years if the tenancy started after 18.1.2005)Minimum 2 years with FMSocial Homebuy is only available to our Assured or Secure Tenants (Not Shorthold Tenants) No breaches of tenancy

This is a voluntary scheme – you do not have the right to purchase your home using this scheme. When you apply we will check whether your home is suitable as part of the eligibility assessment.This depends on where you live. The maximum discount available in Family Mosaic’s operating area ranges from £11,000 up to £16,000.

If you buy a share in your property, the discount will be calculated at thesame percentage as the share you are buying.

For example:

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If the full discount is £16,000, you can expect toreceive the following discounts if you buy a share:• 25% £4,000 • 50% £8,000 • 75% £12,000

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Shared Ownership agreements prohibit subletting by the owner to protect the public funds and ensure applicants are not entering in to affordable home ownership for commercial gain.

For residents who purchased their property under Social Homebuy scheme- The whole point is that it is the persons main home which they have bought with the benefit of a Grant. We have to protect the grant funding for the 5 years, therefore they are not allowed to sublet within this period. If they wish to rent out and are 100% owners then the following applies:

The lease they sign states that we will consider letting in the same way as we do for shared owners with our reasonable costs and disbursement paid. So for a short period with a suitable reason – work sabbatical etc. The difference with Social Homebuy tenants is that they have to provide a copy of the tenancy agreement with their request to sublet.

If they have a flat there is a sub clause within the lease which says that if they wish to sublet then they have to also provide a copy of the tenancy agreement and pay Family Mosaic 1% of the monthly rent. This doesn’t apply to houses.

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