Apply for affordable home ownership

To join our 'affordable home ownership register' complete both:

Return your completed forms with the required documents to our housing registrations team.

Download guidance on how to complete the main housing application form from North Yorkshire HomeChoice or contact our housing registrations team with any queries about the application process.

We cannot guarantee how long you'll have to wait for an affordable home - it could be a few months, over a year or more, depending on:

  • homes which become available
  • whether you match the financial requirements
  • how many other people are looking for a similar property
  • how flexible you are on location

Other affordable home ownership schemes may be available through the regional Help to Buy website.

The affordable home ownership scheme

The affordable home ownership scheme is aimed at promoting home ownership, so financial viability is the first consideration. You may be considered, for example, if you have savings but you're on a small income.

You must be able to show that:

  • you cannot afford to buy a house at the full market price
  • you can get a mortgage
  • you have sufficient savings for a deposit and legal fees
  • the combination of your savings and your income would not allow you to buy on the open market

You must seek advice about mortgages specifically for affordable housing and have a 'mortgage promise' prior to us being able to consider your application.

You will not be considered if:

  • you can afford to purchase on the open market
  • your annual income is under £15,000 (unless you have substantial savings)
  • you currently own or have a share in another home
  • you are unwilling to provide income/mortgage details
  • you are a cash buyer (except in exceptional circumstances)
  • you have a bad credit history - this means that you would not normally be able to get a mortgage

The current policy is targeted at first time buyers, therefore if you already own a 'discount sale' home you won't be eligible for another, unless your housing needs have significantly changed (you need a smaller or larger home). In these circumstances, if you're assessed as eligible you'll need to have sold your current home before the final legal completion of any future discounted sale.

Types of affordable home

Affordable homes are allocated based on 'housing need'.

Wherever possible we'll offer a home which meets the needs of your household/family, in accordance with the general lettings policy. However, as you'll be investing in the home, and are expected to live there for a considerable time, flexibility is given in the number of bedrooms.

You'll be eligible for homes which have the 'required number of bedrooms' and for properties which have 1 more bedroom than you need, for example:

  • single person - 1 or 2 bed home
  • couple - 1 or 2 bed home
  • two adults (not a couple) - flats only
  • family with 1 child or expecting a child - 2 or 3 bed home
  • family with 2 children the same sex - 2 or 3 bed home
  • family with 2 children, different sex - 3 or 4 bed home
  • family with 3 children - 3 or 4 bed home
  • family with 4 children - 4 or 5 bed home
  • family with 5 or more children - 5 or 6 bed home

However, those who need all bedrooms in a particular home are considered before those requesting an 'extra bedroom'.

Affordable homes are offered to residents of York in the first instance. If you're not a York resident your application will be considered if a home is not sold to a York resident during the initial marketing period.

Costs related to affordable home ownership

Mortgages

You need to speak to either an independent mortgage advisor, bank or building society about mortgages. Ensure that you tell your mortgage advisor that you are looking to buy a shared ownership, discount sale, shared or fixed equity property.

Guarantors are acceptable, but the mortgage does need to be in your name.

Deposits and legal fees

The amount of deposit required varies from lender to lender and is dependent on market conditions. You need to confirm these details with a lender or financial advisor.

In the current housing market, a deposit of between 10% and 20% means the amount required will usually range from £12,000 to £20,000 depending on the type of property.

You should allow about £600 to cover legal costs, but check this with your solicitor.

Most affordable homes will be below the Stamp Duty threshold, but you should also check this.

Other costs

If you buy an apartment, and sometimes a house, you will also be liable for payment of service charges. These generally cover the costs of ground rent, cleaning of windows and communal areas, gardening and a contingency fund which will go towards the costs of repairs to the building. The housing association should provide a detailed breakdown of which items are covered within these costs and the total amount which can be several hundred pounds per annum.

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