1. Gross household income of no more than £71,000 per annum when eligible to purchase or rent a one or two bedroom home or no more than £85,000 per annum when eligible to purchase or rent a family sized home (three or more bedrooms).
2. Minimum income criteria are that the annual rent does not exceed 30% of household gross annual income. (Minimum Household income of £44,400.00). Gross household income of no more than £90,000 per annum to be eligible to purchase or rent a one bedroom home.
3. Unable to purchase a suitable home to meet customer’s housing needs on the open market within a reasonable travelling distance of their work place without assistance.
4. Does not already own a home or has sold current home before purchase or rent.
5. Must be a British or EU/EEA citizen or have indefinite leave to remain in the UK. Customers without indefinite leave to remain who are interested in buying a home, must be able to demonstrate that they are able to raise a mortgage with an acceptable lender and that they can afford to sustain home ownership in the longer term. This will normally require a detailed individual assessment.
6. Employed on a permanent contract of employment or able to demonstrate that customer can afford the costs of intermediate renting.
7. Customer must have a good credit history.
8.Deposit of £1707.69 is required
Generally priority will go to the following groups, set in priority order:
1. Residents of the borough of which the development is being built.
2. Employee within the borough of which the development is being built.
3. Local priorities, people with a demonstrated housing need (overcrowding, poor housing conditions, split families, medical reasons, harassment etc).
4. Housing association and council tenants who would vacate a rented home.
5. Serving military personnel.
6. Applicants registered on a local authority or registered provider waiting list.
Public sector tenants (being those tenants living in accommodation in Newham owned by the Council or a Registered Provider as registered pursuant to chapter 3 of part 2 of the Housing and Regeneration Act 2008) and wholly releasing accommodation to which the Council has nomination rights:
▪ People with experience of Care (Care Leavers)
▪ Households currently living in Temporary Accommodation
▪ Leaseholders in blocks being decanted in anticipation of demolition who have a right to be re-housed by the Council
▪ People registered on the Council’s Housing Register or waiting list
▪ Other Council residents who may not release Council accommodation when they move
▪ Others living in Newham in rented accommodation or living with family or friends who do not appear on the Council’s Housing Register
▪ People with strong connections by family ties within the Borough
▪ People who have permanent employment in the Borough.
WE KINDLY REQUEST YOU DO NOT CONTACT US ABOUT THESE PROPERTIES IF YOU DO NOT MEET THE CRITERIA BELOW.
*** Check to see if you meet the requirements to rent this unit ***
To qualify for any of these DMR units, you must be able to check off at least one of the criteria's set out by the council's priorities below (in order of priority) to make sure guidelines are met.
1. Public sector tenants (being those tenants living in accommodation in Newham owned by the Council or a Registered Provider as registered pursuant to chapter 3 of part 2 of the Housing and Regeneration Act 2008) and wholly releasing accommodation to which the Council has nomination rights
2. People with experience of Care (Care Leavers)
3. Households currently living in Temporary Accommodation
4. Leaseholders in blocks being decanted in anticipation of demolition who have a right to be re-housed by the Council;
5. People registered on the Council's Housing Register or waiting list
6. Other Council residents who may not release Council accommodation when they move
7. Others living in Newham in rented accommodation or living with family or friends who do not appear on the Council's Housing Register
8. People with strong connections by family ties within the Borough
9. People who have permanent employment in the Borough
ALL PROSPECTIVE RESIDENTS MUST COMPLETE A DECLARATION TO CONFIRM THEY QUALIFY UNDER THE CRITERIA SET OUT BY NEWHAM COUNCIL BELOW. ALL DECLARATIONS ARE SENT TO AND AUDITED BY NEWHAM COUNCIL.
Your annual household income can be no more than £90,000. You should be unable to purchase a home suitable for your needs without assistance. You cannot be a current home owner (or be named on the deeds of another property). You must not have any outstanding credit issues (i.e. unsatisfied defaults or county court judgments).
This property cannot be offered to a single applicant as it is a 2 bed property
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Shared Ownership New Build
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London Help to Buy
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Deposit Unlock
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Affordable housing scheme: Discount Market Rent (pay a discounted rent)
Rent to Buy
Affordable housing scheme: Rent to Buy (pay a discounted rent).
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Older Person Shared Ownership Resale
Affordable housing scheme: Older Persons Shared Ownership
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