House Sales Scheme
Arbour Housing offers tenants the opportunity to purchase their home under the rules of the Statutory House Sales Scheme.
Arbour Housing House Sales Policy provides a secure tenant in certain circumstances the opportunity to purchase their property as the sitting tenant.
Further information on buying your property is available from Arbour Housing and the notes below should provide you with a brief guide to the process.
To purchase your property you must have a minimum of 5 years as a secure tenant, either with the NIHE or a registered Housing Association. For the purpose of the House Sales Scheme, time spent as an introductory tenant will count towards this.
Properties exempt from purchase are:
- A group home
- A bungalow with 2 bedrooms or less
The current market value of your property will be determined by an independent valuer.
The valuation charge is £100.00 which is refundable on completion of the sale. If you are unhappy with valuer’s assessment of market value, you may request to have the property re-valued by Land & Property Services. It should be noted that on re-determination, the valuation placed on the property can go up as well as down. LPS’s final assessment is binding on both Arbour Housing and the Purchaser(s)
Sale of Flat & Maisonettes
Tenants of flats and maisonettes have similar rights to purchase their home as those living in houses.
An annual service charge may be payable to Arbour Housing each year to cover improvements, repairs, maintenance and administration costs for the premises within which the flat/ maisonette is located. The service charge is reviewed annually by Arbour Housing.
There is a discount ceiling of £24,000.00 on all dwellings sold under the Statutory House Sales Scheme regardless of the number of years served as a secure tenant.
You will be eligible or 20% discount after 5 years plus 2% each year of tenancy up to a maximum of 60% discount of market value.
An application form to purchase can be requested from Arbour Housing or by clicking here