Havering council housing, what’s happening?
Havering council housing has undertaken one of the most ambitious home building projects ever taken out by a local council.
Havering council housing plans to build over 3,500 new homes which will have subsidized rent, will be available through the shared ownership scheme or the right to buy scheme.
Havering council housing is currently regenerating over 12 council sites for this development and they expect it to take 10 years for these properties to be delivered.
For Havering council housing to deliver on its promise it will have to demolish a few houses which currently sit on these regeneration sites. You should check here to see what will happen if your home is one of these homes which has been marked for demolition by Havering council housing.
You will naturally be eligible for a host of compensations for your house being demolished by Havering council housing.
From the Havering council housing website you should be able to see more information on how to register your interest for available housing, empty homes and any housing schemes Havering council housing may be running.
Eligibility for Havering council housing.
Havering council housing may have properties currently available which you may be eligible for but you will need to meet their eligibility requirements before they will accept you.
You must be able to prove that you actually need housing before Havering council housing will see you as eligible for one f their houses.
You must have lived in the London Borough of Havering for six continuous years
You must be a first-time buyer and not have any assets or savings more than £36,000
You must be entitled to public funds
You or anybody in your household must not have done anything that may make you unsuitable tenants for Havering council housing.
You can read more information about applying for a home, bidding for a home and appealing for a home with havering council housing in case you get rejected.
Alternatives to Havering council Housing
Aside from homes in the Havering council region, you may also be eligible for other homes through the governments first time buyer or home mover schemes
These schemes include:
- Lifetime ISA– gives you a government bonus of £1,000 if you save the maximum £4,000 a year.
- Help to buy ISA– gives a maximum bonus us £3,000 if you save the maximum allowed of £12,000. Before you get either you should consider which is better. Lifetime ISA vs Help to buy ISA.
- Help to buy equity loan– gives you up to 40% as a 5-year interest-free equity loan. You begin to pay interest at 1.75 % after the fifth year and 1% plus RPI for every year thereafter.
- Shared ownership- You can buy between 25% to 75% of the property initially with a shared ownership mortgage and then buy more using a staircasing mortgage.
- Armed forces help to buy- similar to the help to buy equity loan but specific for the armed forces personnel giving them an increased chance of acceptance.
- Rent to buy- This is the right to buy scheme on which this guide is currently discussing. A different marketing name is just used. Watch out for this when shopping to avoid missing out on eligible properties due to confusion.
- Right to buy- allows you to buy your home at a discount price.
- Preserved right to buy- same as above.
- Right to acquire- same as above.
When considering what your affordability for a home may be with Havering council housing or any other housing provider you may want to consider speaking with a mortgage broker who could advise you on the best options available to you.
If you have bad credit or are self-employed them you may need to speak to specialist mortgage brokers who can best advise you with their niche knowledge of the market.
If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.
You can also contact the debt charity “Step Change” if you are in debt and need help.