Basingstoke and Deane Borough Council’s equity loan scheme to help people get on the housing ladder – ‘Basingstoke and Deane Own Home Loan’ – launched on Friday 24 January.
Using £580,000 of council money allocated to provide affordable housing, Own Home Loan aims to support young people to buy a home with deposits of up to £30,000 per application. It is available to single people, couples and those with children who are on the housing register, with those who have been on the register for the longest time given priority. Priority will also be given to those applicants under the age of 35. The key difference to other loan schemes and a major local benefit is that it enables people to buy existing homes and not just new build homes.
People wishing to apply must:
- Be living or working in Basingstoke and Deane and registered on the council’s housing register
- Have a household income under £50,000
- Be the first home that you have bought and your only home
- Be able to provide a 5% deposit
- Pass an external financial assessment
The deadline for applications is Friday 20 March 2020. For more information on Basingstoke and Deane Own Home Loan, including frequently asked questions and the application form click here.