Affordable Homes in London

Am I Eligible?

GENERAL ELIGIBILITY CRITERIA FOR ALL APPLICANTS

These are the general eligibility criteria you must meet to have your application accepted for FIRST STEPS. Additional criteria may be required for specific developments such as minimum and maximum income thresholds and where you currently live.

* NEW! As of the 1st April 2012 the household income threshold has changed up to £60,000pa for applications for 1 and 2 bedroom properties and up to £74,000pa for applications for family sized properties (3+ bedrooms).

You are eligible if...

• You have a gross household income of less than £60,000 per annum when applying for 1 and 2 bedroom properties or less than £74,000 per annum when applying for family sized properties (3+ bedrooms). Bonuses and other forms of income will be included as part of your overall income . Please note: a lower income threshold may be applicable on certain developments
• You want to live in London. It is worth noting that often priority for a particular property or development is given to people who are already resident in the same borough as the development. You will find this information on the property details page
• You are a British or EU/EEA citizen, or you have indefinite leave to remain. If you do not have indefinite leave to remain you can apply for both rental and purchasing schemes but you should be aware that you may have trouble getting a mortgage. If you are unable to get a mortgage, then you will NOT be able to proceed with your purchase

When purchasing you will need to:

• Have a good credit history
• Raise £4000 to cover the costs of buying. This is to cover the cost of solicitor's fees, mortgage arrangement fees, moving cost etc
• Have additional funds for a deposit. The amount will depend on the cost of the share you buy, your mortgage provider's requirements and your credit rating
• Be employed, self employed or otherwise able to demonstrate you can afford to maintain the costs of home ownership in the long term. Student loans, bursaries and other similar forms of funding are not acceptable forms of income

For intermediate rent only

• You will save the discount on your rent towards a deposit to buy a property later
• You should aspire to enter into home ownership through low cost home ownership products within five years of entering your tenancy

You are not eligible if

• You own a home (in the UK or abroad) that you do not plan on selling. To become eligible, your property must be sold before you can complete your purchase through a FIRST STEPS scheme, or sign a rental agreement
• You have a poor credit rating. If you have a poor credit rating you may be eligible for rental schemes, although some housing associations may not accept your application. You are able to re-apply for purchasing schemes once you can provide evidence that you have re-built your credit rating
• You are a council or housing association tenant in rent arrears. Once you can provide a rent statement showing your arrears have been paid and that you have not been arrears for 12 months you may be eligible
• You are unable to afford the property without using housing benefits
• You are self employed and unable to provide two years past accounts and one year's projected earnings. You can apply to rental schemes only, although some housing associations may not accept your application for their properties
• You are a current homeowner unable to demonstrate that you have a housing need or unable to obtain support for your application from your Local Authority

Priority groups for FIRST STEPS

The priority groups for housing are:

• Housing association and council tenants and armed forces personnel (see below for eligible roles)
• Local priorities (which may vary from borough to borough)
• First time buyers

Housing Association and Council Tenants

To be considered a priority a housing association and council tenant must;

• Rent a council or housing association property (this does not include tenants who are renting through Intermediate Rent, Rent to HomeBuy or Rent to Buy schemes)
• Be named on the lease / rental agreement for that property, and
• Leave the rented home vacant

Armed Forces Personnel

To be considered a priority, armed forces personnel must have completed basic (phase 1) training and fall into one of the following categories:

• Regular service personnel (including Military Provost Guards Service in the Army, Navy, Air Force)
• Clinical staff (excluding doctors and dentists)
• MoD police officers
• Uniformed staff in the Defence Fire Service
• Ex-regular service personnel (who have served in the Armed Forces for a minimum of six years and can produce a Discharge certificate, or similar document). Applications must be within 12 months of discharge
• The surviving partners of regular service personnel who have died in service may be eligible to be prioritised where they apply within 12 months of the date of being bereaved

The following roles are prioritised for Intermediate Rent only:

• Full Time Reserve Service (Full Commitment)
• Individuals who have not completed basic training