Introduction
Social Homebuy is a voluntary scheme which allows a tenant to buy a part share in their home. They then pay rent on the remainder and in the future can buy additional shares and possibly eventually own their home outright.

To qualify for the scheme tenants have to be eligible for the Right to Buy, not have been on housing benefit for the last year and pass a financial appraisal. There are a limited number of places a year available for the scheme.

• If the date tenancy commenced was on or before 17/01/05 then the qualifying period is 2 years
• If the date tenancy commenced was on or after 18/01/05 then the qualifying period is 5 years

Tenants will be able to purchase a minimum initial share of 50% of their home.

The remaining share will be held by the council and you will pay 3% rent on this share.

If you are interested in this scheme then you will need to firstly complete a Right To Buy application form. We will then arrange to have your property valued.

 Right to buy application form (89 kb)

We will then send you an offer letter setting out the price of the whole property, the discount you will receive on the whole property and details of the major works and service charges for the next 5 years. .

At this stage you will have three options

• To accept the Right To Buy Offer and buy the whole property
• To apply for Social Homebuy and undergo a financial appraisal to see if you can buy an share of 50% or more of your home through Social Homebuy
• Take no action and continue to pay rent.

If you choose to apply under the Social Homebuy scheme you complete a Social Homebuy application form. We may also wish to meet with you to discuss your application.

Please note that the information set out in the leaflet below is our summary of some quite complicated legislation and is not a full statement of the law. If, at this stage, you feel that you need independent legal advice, you should contact a solicitor or your local Citizens' Advice Bureau.

 Social Homebuy guidance notes (61 kb)

Further information
Alternatively, for further information on the Social Homebuy scheme, please contact us on (020) 8871 6016 or call into Room 44 in the Town Hall between 9am and 5pm Monday to Friday (late night opening until 7pm on Thursday)

Home OwnershipTeam
Wandsworth Council
Room 44 (Ground Floor)
Town Hall
Wandsworth High Street
London
SW18 2PU

Telephone: (020) 8871 6016
Minicom: (020) 8871 6079