Bracknell

Bracknell Forest residents living in housing association properties are now able to get their foot on the property ladder with a grant of up to £38,000.

The grants are part of a cash incentive scheme being offered by Bracknell Forest Council to help tenants who have been living in family-sized houses to buy their own home on the open market.

Additionally, a home loan scheme will lend £20,000 to Bracknell households who want to buy a shared ownership home and they can get a loan from the Council payment free for five years and interest charged at 3.93%.

Initially there will be a trial for 10 houses in each scheme, and subject to take up more home purchases will be supported.

Money to fund the scheme comes from last year’s transfer of council housing to Bracknell Forest Homes. The Council allocated £17.25m to fund social housing projects in Bracknell Forest.

It is hoped the money will not only help tenants move into their own homes and make a start on the property ladder, but also make more housing association properties available to rent in Bracknell Forest.

Cllr Dale Birch, Executive Member for Adult Services, Health and Housing, said: “We are launching these new schemes now to help potential home owners gather enough deposit to make the most of the current low house prices and stamp duty holiday.

“I believe these schemes will really help both potential home owners and residents waiting for social housing.”

For more details, call the Council’s housing options team on 01344 351351 or 351352.

Bracknell Forest Council