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Support towards home ownership

In these difficult economic times, the government is committed to doing everything possible to providing support towards home ownership.

Row of houses

They have, together with other partners, developed initiatives to help home ownership as follows:

  • Support for mortgage interest
    Your capital limit will be £200,000. If you're getting Pension Credit, this figure is £100,000. The standard interest rate used to calculate SMI is 2.61%. Please note the SMI benefit is ending on 5 April 2018, and will be replaced by a loan.
  • Homeowners mortgage support
    Support for people who have had a drop in income.
    With this scheme, you can postpone part of your interest payment for up to two years. The money postponed is added to the balance of your mortgage and will be paid back when your financial situation improves. Please contact your lender for information regarding what support is on offer.
  • Homelessness prevention
    In October 2016 the government announced funding of £40 million to tackle homelessness and support homeless prevention. Further information can be found on the GOV.UK website »
  • Help for First Time Buyers (FTB)
    The government has a number of schemes which offer support for first time buyers including Help to Buy equity loan scheme and First Steps, the government advice portal for first time buyers. 
  • Pre action protocol
    You may be able to delay re-possession of your property by discussing and agreeing with your lender options or alternatives to re-possession as now required by law. 

Find out more about low cost home ownership in Hillingdon.

Read more on government initiatives  »

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Article utilities:  Bookmark and Share Print Print this page Last updated: 19 Oct 2017 at 15:18