The First Time Buyers Scheme is an opportunity for Hillingdon residents to become homeowners.
The scheme is exclusively for first-time buyers who have lived in Hillingdon for the last 10 years and have funds to pay a minimum 7.5% deposit. The council tops up your deposit with a grant to assist applicants purchasing a home suitable for their needs, in an area of their choice within Hillingdon. Funding is limited and applications are processed on a first come first served basis.
The scheme caps the house purchase price at £300,000, with a maximum grant payable to you of £22,500.
Do I qualify?
You qualify for the First Time Buyers Scheme if you:
have lived in the borough for 10 years
have funds to pay a minimum 7.5% deposit of the purchase price of the property from own savings
are working, but cannot access the housing market
What other conditions apply?
If you sell your property within three years you will have to pay back the grant. A charge will be placed for this amount on your property for three years (you can remove the legal charge)
The home you buy must be your principal residence and cannot be sublet
What if I don't qualify for this scheme?
There are other low cost homeownership schemes available. Visit the Mayor of London's website Homes for Londoners, to find an affordable home to meet your needs.