Home Purchase Grant scheme

If you're a tenant who’d like to vacate your rented council property and purchase a private property with financial assistance, our Home Purchase Grant scheme can help. (Please note the grant is restricted to purchases within the UK only and excludes the Channel Islands).

The scheme is aimed at Southwark Council tenants who would like to vacate their tenanted property and purchase a private property on the open market. If you meet our eligibility criteria we can give you financial assistance in the form of a cash grant. The grant is based on the number of bedrooms within the property and additional funds are given for moving costs.

Most applications take around nine to twelve months from start to completion.  If documents are not submitted within the designated time frames your application may be withdraw.

Who can apply

You're eligible for this grant if:

  • you're a secure tenant and have held a secure tenancy with us for at least two years in total
  • your current home has 2 bedrooms or more (no 1 bedrooms, bedsits or studio flats)
  • you're not in receipt of housing benefit
  • you have not been in rent arrears of more than 5 weeks over the last 6 months prior to application

Grant payments

Our cash grant levels are as follows:

Number of rooms

Price

2 beds

£30,000

3 beds

£35,000

4 beds

£40,000

5+ beds

£45,000

To ensure applicants will not be placed in financial burden, we carry out a comprehensive affordability assessment with every application. This tells us how much we believe is your estimated property budget that you can afford to purchase.

If you would like a copy of the Frequently Asked Questions (FAQs) of the scheme please contact our team on 0207 525 5541.

Shared ownership terms

Our grants can be used to buy a property on shared ownership terms through a New Build Homebuy scheme offered by a Registered Social Landlord (RSL). You must ensure:

  • the shared ownership scheme operator allows this under the rules of their scheme
  • the RSL provider is aware you’ll be purchasing with the assistance of our grant
  • you have consent from the Homes & Communities Agency  

Due to the popularity of the home purchase grant scheme and limited budget we can no longer accept new applications at present. We'll update this webpage when we're able to accept new applications. To find out more information on any of the above, email specialist.homepurchase@southwark.gov.uk

How to apply

If you'd like to be considered for the Home purchase grant scheme, download and complete the application form.

Once you've completed the form, print it, sign it and return it to:

Housing & Modernisation
Sales & Acquisitions
PO BOX 64529
London
SE1P 5LX

Page last updated: 15 June 2018