Who is it for?

Priority is given to Local Authority and Housing Association tenants, people on a Local Authority housing register, key workers and other first time buyers.

What do I buy?

A percentage share In a new home (normally a minimum of 50%).

How much do I buy?

In rural areas i.e. towns or villages with less than 3,000 population, you can normally buy a minimum of a 50% share in a home, and then buy further shares (normally referred to as stair-casing) up to 80% of the full market value.

In all other areas such as large towns and cities, after the initial purchase, the purchaser can staircase right up to 100% of the full market value.

How do I purchase further shares in my property?

The lease will tell you that you have the right to buy further shares in your property (refered to as staircasing). You are able to purchase shares in more affordable 10% blocks, and you can staircase as many times as you need to purchase up to your limit.

If you decide that you want to buy further shares, you should contact DACAHCIC in writing. Please remember to provide us with a daytime contact number.

What do I do if I want to sell?

If you wish to sell your share you will need to contact DACAHCIC who will advise you of the procedure for selling a property. The lease will entitle DACAHCIC to a fixed time within to identify a nominated purchaser, in which case you will not have estate agents fees to pay.

If DACAHCIC is unable to identify a nominated purchaser, you will usually be able to sell your property on the open market through an estate agent.

We will write to advise you at the stage of the price of the share and the costs involved with the transaction.

What else do I pay?

• Most Housing Associations operate a part- buy / part rent basis where a share in the property is purchased typically 50% and a discounted rent is paid to the Housing Association on the remaining share, this normally equates to 3% of the unsold equity. Owners can purchase further shares at a later date.

• All the costs associated with the initial purchase including; solicitors fees, mortgage lender fees, stamp duty (where applicable)

• You will need to pay all management and maintenance costs. For example, our properties at The Orchard, Modbury have a ground rent charge of £125/year and service charges of £33/month (which includes communal parts upkeep, cleaning, external maintenance and building insurance).

Click here for an example

How do I apply?