Own Home Loan  

I’m pleased to update you that Basingstoke and Deane Borough Council’s equity loan scheme to help people get on the housing ladder - ‘Basingstoke and Deane Own Home Loan’ - will launch this Friday 24 January.  

Using £580,000 of council money allocated to provide affordable housing, Own Home Loan aims to support young people to buy a home with deposits of up to £30,000 per application. It is available to single people, couples and those with children who are on the housing register, with those who have been on the register for the longest time given priority. Priority will also be given to those applicants under the age of 35. The key difference to other loan schemes and a major local benefit is that it enables people to buy existing homes and not just new build homes. 

People wishing to apply must:  

• Be living or working in Basingstoke and Deane and registered on the council’s housing register
• Have a household income under £50,000
• Be the first home that you have bought and your only home
• Be able to provide a 5% deposit
• Pass an external financial assessment.

The deadline for applications is Friday 20 March 2020. We will be sharing news of the scheme through Homebid – the borough council’s choice based lettings scheme; Your Home – the borough council’s emailer to people looking to buy affordable homes; the council’s social media channels; the residents’ newspaper Basingstoke & Deane Today and the local media. I would also appreciate your assistance in raising awareness of the scheme with residents in your parishes and towns. 

For more information on Basingstoke and Deane Own Home Loan, including frequently asked questions and the application form, visit www.basingstoke.gov.uk/own-home-loan

With best wishes, 

Tristan