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Additional Resources

Cash incentive scheme

The purpose of this scheme is to help Hillingdon Council tenants buy a home on the open market that they would not otherwise be able to afford.

cash

To give you some idea as to how the scheme works, you might find the following information of interest. If you have any queries, you can  contact the sales team.

1. What is the cash incentive?

It is a one-off lump sum payment to assist you to move out of your home and buy a property that you could not otherwise afford without the benefit of receiving the cash incentive grant. The maximum payments are as follows:

Property Type Tenancy Period 2 years+

  • any 4 Bed + property £30,000
  • any 3 Bed property £30,000
  • any 2 Bed property £25,000

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2. Who is eligible for the scheme?

You must have held a secure tenancy with Hillingdon Housing Services for at least two years and currently have a clear rent account. Priority will be given to tenants occupying a property that has at least two bedrooms and are living in overcrowded conditions, as defined by our allocations policy.

3. Can I apply for the cash Incentive to help me buy my existing council property?

No. The cash incentive is not available to Council tenants buying under the Right to Buy.

4. Where can I buy a Property in Hillingdon?

Anywhere in the United Kingdom, (England, Scotland, Wales & Northern Ireland).

5. What type of property can I buy?

Any traditionally built residential property that is at least adequate for your present needs.

Maximum Price of Property Allowed by Area and Property Size.

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Within Hillingdon

Size of accommodation needed 

Maximum Purchase Price

One bedroom 

£183,000

Two bedrooms 

£230,000

Three bedrooms 

£282,000

Four or more bedrooms

£330,000 

London & South East Regions.

Size of accommodation needed 

Maximum Purchase Price

One bedroom 

£159,000

Two bedrooms 

£218,000

Three bedrooms 

£271,000

Four or more bedrooms

£318,000 

Southwest Regions

Size of accommodation needed 

Maximum Purchase Price

One bedroom 

£141,000

Two bedrooms 

£207,000

Three bedrooms 

£247,000

Four or more bedrooms

£282,000 

Rest of the Country.

Size of accommodation needed 

Maximum Purchase Price

One bedroom 

£118,000

Two bedrooms 

£177,000

Three bedrooms 

£212,000

Four or more bedrooms

£235,000 

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Mobile homes (including those that are permanently sited), caravans, houseboats, timeshare properties, businesses with accommodation and shared ownership properties are not acceptable.

6. Should I find the property before I apply?

No. Please apply first and you will be invited to an interview to discuss the scheme in more detail. If your application is approved, we will ask you to send us details of the property that you wish to buy, but you should not commit yourself to the purchase until we have confirmed that we will give you the grant for the property that you have chosen.

7. What if I have already found a property?

You may still apply but this will not give you any priority over any other applicants. You should not therefore rely on getting an offer.

8. Does it make any difference how much I earn or have saved?

Yes. You will be asked to give details of both and this will form part of the assessment of your application

9. Can I get a council mortgage?

No. You will have to arrange this yourself through a bank or building society.

10. Will the council help with my expenses?

No. You will have to pay all your own expenses. These will include mortgage valuation/survey fees, solicitor's fees, stamp duty etc. These can be quite considerable. You should make sure you have the money to cover them before you think about buying a property.

11. If I am successful, when will the money be paid?

The money will be paid on completion. Your Community Housing Officer will collect the keys on the day of completion, and inspect your home to make sure you leave it in good condition, as set out in your Conditions of Tenancy. Provided the property is in a satisfactory condition, we will instruct your solicitor to 'release' the grant.

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12. Does everyone have to move out of the property I live in now?

Yes. Your current property must be vacated on the day you complete your purchase. If for any reason you do not give vacant possession, in accordance with your conditions of tenancy, then the payment will be withdrawn.

13. When I sell the property do I have to repay the council?

If the property is sold within five years of purchase, you will have to pay all or part of the grant you received. The grant repayment method will be based on a sliding scale over the five-year period, as follows:

Sale Period % of grant to repay

Within one year 100%

  • within 1 year - 100%
  • between 1 – 2 years 80%
  • between 2 – 3 years 60%
  • between 3 – 4 years 40%
  • between 4 – 5 years 20%

14. Can I borrow more than the purchase price of the property?

We has a say in how much you can or cannot borrow for up to five years after you have bought your home and what that borrowing can cover. This is because we will have given you a one-off lump sum payment to assist you to move home by buying a property on the open market.

This legal interest is known as a 'charge', and it means that if you default on your mortgage payments and your lender has to re-posses your home, we will be repaid the discount before your lender recovers the value of the mortgage.

15. Can I apply even though I live in a 1 bedroom property?

Although the cash incentive scheme is intended for larger sized properties, you can still apply.

However, we give priority to tenants living in family size accommodation. This year, in view of the limited funds available, we will not be able to consider any applications from tenants living in one bedroom properties.

16. Can I purchase a share in another property?

You can use the grant to buy a shared ownership/equity share property, but the grant will be reduced in proportion to the amount of the share you want to buy.

17. Can my son/daughter/members of my family buy with me?

Only members of your family who live in the property as their main home can buy with you. The cash incentive scheme permits up to 3 members of the family to purchase with the secure tenant, provided the property is the main home of all of them. Anyone other than your husband or wife who wants to buy with you must have lived with you for 12 months before you apply.

18. When will I hear whether my application has been successful?

Once we have included your name on to our waiting list, we will invite you to submit an application form once we are in a position to consider your application – this will be based on the availability of sufficient funds to be able to pay you the grant, and the priority of your application. (See 2. above) If your application is successful we will then invite you to a consultation meeting. At this meeting we will ask you to bring with you proof of your income and savings as well as a mortgage certificate (see 20. below) and discuss your application with you.

19. What other expenses will I have to pay?

There are a number of other expenses involved in buying your home, and you will need to make sure that you have enough money to pay for them. These expenses include:

  • deposit for the property you are buying
  • your solicitor's fees
  • valuation and survey fees
  • stamp duty
  • removal costs
  • disconnection and reconnection of appliances/services

20. What is a mortgage certificate?

A mortgage certificate is issued by a mortgage provider to confirm the amount they are prepared to lend you. Asking your lender for a mortgage certificate does not tie you in to taking up the offer of a mortgage. This certificate will confirm to us that you are in a position to obtain a loan to purchase a property. If you intend to use a mortgage to purchase your new property, you will need to obtain a mortgage certificate before you attend your consultation meeting with us.

21. Who can I contact for further information?

Please contact  Jodie Kelly, Senior Sales Advisor.

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