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Living in the UK

2. HOUSING

2.3. Home ownership

Buying a house

There are some key phases to buying a house. 


  • Organising your finances:

Finance comes first. Before you start seriously looking at properties, you should consider how you will pay for your new home.


  • Getting an Agreement in Principle (AIP):

An agreement in principle is a written estimate from a        mortgage lender, giving you an indication of how much    money you can borrow.


  • Finding your home:

You can access the internet or Estate agents.


  • Making an offer


  • Formally applying for a mortgage: 

A mortgage is a loan that you use to buy a property. 

When you buy a home, you'll put down a cash deposit and pay for the rest using a mortgage from a bank or building society.

You then pay the mortgage plus interest back in monthly instalments over a set number of years.


  • Hiring a solicitor and Completing the purchase.



First time Buyers Scheme 

  • The First Time Buyers Scheme is an opportunity for Hillingdon residents to become homeowners.


  • The scheme is exclusively for first-time buyers who have lived in Hillingdon for the last 10 years and have funds to pay a minimum 7.5% deposit. 


  • The council tops up your deposit with a grant to assist applicants purchasing a home suitable for their needs, in an area of their choice within Hillingdon.


  • Funding is limited and applications are processed on a first come first served basis.



Shared ownership 

Shared ownership allows you to buy a property which otherwise would not be affordable.


Who is eligible ?

The standard requirements for shared ownership are:


  • Applicants should have a gross annual household income of no more than £90,000 per annum.


  • Applicants must be unable to purchase a suitable home to meet their housing needs on the open market.


  • Applicants will need between 5 to 10% deposit on the value of the share they wish to purchase.


  • Applicants who supplement a low income with welfare benefits (for example, housing benefit) will not meet affordability requirements and are therefore not eligible. Owner occupiers may be considered as a result of a relationship breakdown.


  • You must be able to obtain a mortgage or have sufficient capital to buy your share. 


Your home may be at risk if you fail to keep up your mortgage or rent payments.


How do I apply ?

Click:      Apply for Shared Ownership


Or  


Download:  Shared Ownership application form




Right to buy: Buying your council home 

You can get a discount on the market value of your home when you buy it if you qualify for Right to Buy.


In London Boroughs the maximum discount is £112,300. It will increase each year in April in line with the consumer price index (CPI).


 Discount is based on:

  • How long you’ve been a tenant with a public sector landlord.


  • The type of property you’re buying - a flat or house.


  • The value of your home.


  • If you’re buying with someone else, you count the years of whoever’s been a public sector tenant the longest.


  • You’ll usually have to repay some or all your discount if you sell your home within 5 years.


  • You might get a smaller discount if you’ve used Right to Buy in the past.


Visit for information and scheme:   Right to Buy Scheme