What about selling?
You can sell your home at any time. We will have a limited period to arrange for you to sell to someone on our waiting list. If we can’t find a buyer then we could decide to buy back your home ourselves. After this period you will be free to sell privately.
What happens next?
Step 1
If you are still interested in applying once you have finished reading this guide then please fill in the attached form and return it to us.
Step 2
We will send you an application form and a guide to the likely costs including service charges, rent and mortgage. This cost estimate will be based on the approximate value of your home. We hope that this will give you some information to help you decide whether to continue with your application.
Step 3
If you feel that Social HomeBuy is the right option for you once you have studied the costs guide then you should submit a completed application form (we will also require 3 months payslips, bank details as proof of savings and evidence that you have held a secure or assured tenancy for a two year period if you have not been a Mercian Housing Association tenant for that time).
Step 4
We will assess your application against the eligibility criteria and check affordability for you. We will probably also need to meet with you to talk about your application. If your application is accepted then we will arrange for a valuation by a qualified person and make a formal offer.
Step 5
If you wish to proceed then you will need to accept the offer, arrange a mortgage and appoint a solicitor. We will expect completion within 3 months of the valuation. You are now a homeowner!
Further Information
If you have any further questions about the Social HomeBuy scheme then we would be happy to help. Please contact Angela Doyle on 0121 322 7373, or email enquiries or write to Angela at Social HomeBuy Sales, Mercian Housing Association, Gee Business Centre, Holborn Hill, Aston, Birmingham, B7 5JR.