Home Purchase Grant scheme

What is the Home Purchase Grant Scheme?

Are you considering buying a home on the open market?  Southwark Council operates a discretionary Home Purchase Grant scheme that could help you. If you are eligible, we can give you financial assistance for one of the following:

  • to help you buy a home
  • to pay towards an extension
  • to pay part of a mortgage of an existing home you would like to move into 

The grant is only available if you wish to buy your property in England, Wales or Scotland (excluding the Channel Islands and shared ownership properties).

 To be eligible for the scheme you must:

  • Have a secure tenancy for a minimum of three years (two of those years must be a tenancy held with Southwark Council)
  • Your current home must have a minimum of two or more bedrooms as the scheme is not available if you live in a studio or one bedroomed home
  • You must not be in receipt of housing benefit
  • You must not be in any arrears with any rent, council tax or other accounts with Southwark
  • You cannot have been made bankrupt or be guilty of any recent anti-social behaviour
  • You must not have a ‘live’ Right to Buy or Social Homebuy application at any time during your Home Purchase Grant application

Grant awarded

The size of the grant we can give depends on the number of bedrooms you have. There is an additional payment if you have a house or sole access to a garden.  We also help with your removal costs. Our current grant offers are as follows:

Number of Bedrooms

Basic Incentive

House or ground floor properties with sole access to garden

Total Maximum Home Purchase Grant

5+ Beds

£45,000

£3,000

£48,000

4 Beds

£40,000

£3,000

£43,000

3 Beds

£35,000

£3,000

£38,000

2 Beds

£30,000

£3,000

£33,000

We have a legal duty to protect public funds, so we check every application and all the documentation to ensure it is genuine.  This means any information you provide as part of your application may be shared with other bodies responsible for auditing or administering public funds for these purposes.

As part of the application process, you must sign an anti-money laundering form. This ensures the Council is not part of a financial transaction that could amount to handling the proceeds of crime (money laundering).  You also have a duty to update us with every change relating to the finance of the purchase, such as a change in mortgage provider.  If you knowingly make false statements or misrepresentations in the purchase of your home, you may be prosecuted.

Financing your purchase

For most people, buying a home is the biggest investment they will ever make.  It is an exciting time, but there is a lot to think about. It’s a good idea to look into the costs of home ownership as early as possible, before you get too far into the Home Purchase Grant scheme process. Even if you do not need a mortgage or are buying into an existing property, you are responsible for how you finance your property interest. Your landlord cannot arrange this for you.

We will carry out a comprehensive affordability assessment on your declared income and expenses, which will give you an idea of whether you will be able to afford home ownership.

How can I apply?

If this scheme is of interest to you and you are confident you have met the eligibility criteria then please read our guide to the Home Purchase Grant (PDF, 635kb). 

Contact us

Contact Home Purchase Grant scheme

Page last updated: 05 April 2023

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