Government initiative, 'Social HomeBuy' is now available to Fareham Borough Council tenants. The scheme allows council tenants to purchase their current home on shared ownership terms. The plan is designed to give tenants the opportunity to get onto the housing ladder by holding an equity stake in their home.

The scheme runs alongside the 'Right to Buy' system, which allows tenants to buy their property. 'Social HomeBuy' works by council tenants buying a minimum 25% share of their home, with the option to buy further shares in the future.

Residents taking part in 'Social HomeBuy' are entitled to a discount on the initial share, up to a maximum of 11,000 is available for those who purchase a 100% share. Tenants who choose to buy the minimum share of 25% will be entitled to a discount of 2,750.

Conservative Councillor Ernest Crouch, Chairman of the Housing Tenancy Board said of the scheme; "This is a good opportunity for our tenants to take the first step into owning theirnhomenand to achieve full ownership at their own pace".

In order to qualify for 'Social HomeBuy' you must be a secure tenant, your home must be self-contained and you must have had a clear rent account for the past 6 months.

For further information on the scheme, including qualifying information visit; http://www.homesinhants.co.uk/ (this is an external hyperlink) or email customerservices@fareham.gov.uk or tel; 01329 236100.