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> 05/02/10: Orbit First Step helping people with a long term disability into home ownership
05/02/10: Orbit First Step helping people with a long term disability into home ownership
If you have a long term disability and are in receipt of Disability Living Allowance and other benefits you may be entitled to buy one of Orbit First Step’s New Build HomeBuy (formerly Shared Ownership) properties.
New Build HomeBuy enables people with long term disabilites to buy a home of their own. Individuals are helped every step of the way, and guidance is given through MySafeHome on how to obtain a mortgage.
Please click here for available properties.
What are the costs?
Usually, the person who applies for this home ownership option will have a mortgage for the share of the property they wish to purchase, (a minimum of 50%) and then pay rent for the remaining share.
These costs may be covered by:
Income Support - who will pay the interest charges on an interest only mortgage
Housing Benefit - who will pay for the rent and service charge
An individual's circumstances will dictate how much Income Support and Housing Benefit is payable, but applicants must have been in receipt of Income Support for a minimum of 39 weeks.
Disabled people who have paid work of more than 15 hours per week may not get help towards their mortgage payments (SMI benefit).
The purchaser will need to pay their own costs of purchasing their share in the property. These will include:
- Legal Fees
- Valuation Fees
- Mortgage Advisor's fees
How to Apply
If you would like to find out more information on New Build HomeBuy for people with long-term disabilities please send an e-mail to Sarah Allan at Orbit First Step.
