HOME OWNERSHIP FOR PEOPLE WITH LONG-TERM DISABILITIES
Accessible Options
Below are the specific housing options for those with long-term disability and details about how they work.
The following need to be fulfilled to be eligible to apply for the available products:
In receipt of Disability Living Allowance
- A good reason to move
- Support package in place
- Supporting statement (eg. from social worker)
- Initial buying costs (approx £4000)
And one of the following – in receipt of
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Income support for 39 weeks
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Incapacity benefit for 39 weeks
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Job seekers allowance (income based) for 39 weeks
Please note there may be additional criteria to fulfil in order to qualify.
Mortgages and Income support:
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It is possible to raise a mortgage for most of the following products for those who are in receipt of Disability Living Allowance and other qualifying benefits.
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The Mortgage will be obtained from a lender and paid by Income Support – this is called Income Support Mortgage Interest or ISMI (Those working more than 15 hours a week are not eligible for ISMI).
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Maximum mortgage will be £100,000 (for a minimum of 25% share to maximum of 75%)
H.O.L.D. Home Ownership for People with Long-term Disability
- Similar to New Build HomeBuy, but applicants will have the option to purchase a home on the open market with one of the participating housing associations.
- The Housing Association will purchase the property and will then sell a minimum of 25% to a maximum of 75% to the applicant.
- The remaining share will be rented by the shared owner
- The mortgage will be covered through ISMI
- Rent (and service charge where applicable) will be covered by Housing Benefit.
This product is subsidised through a Government grant to participating Housing Associations.
How do I contact Advance?
By Telephone - 01993 709221
By Email - homeownership@advanceuk.org
Visit us online - www.advancehousing.org.uk