Housing for Long-term Disabilities (HOLD)
What is it?
HOLD is a scheme funded by the Government through Housing Associations. The key difference here is that the buyer is able to choose a property from the open market.
Things to think about
- Security - if you own part of your home you have more security than a council, housing association or private tenant.
- Cost - when you get a shared ownership home you will need to pay.
- A deposit to pay for part of the share.
- The rest of the share with a loan from a bank or building society.
Rent on the share of the home you do not own.
- A Service Charge. This is a fee paid to a landlord for services to keep your home in good condition. It covers things such as cleaning common areas and gardening.
- Risk - you need to be sure that you can afford to pay all the rent, mortgage and service charge. You should get independence advice about this
- Choice – you have more choice about the type of home and the area you live in.
- Repairs – you have to pay for all repairs to your home.
Want to find out more?
For more information on obtaining a mortgage through the HOLD scheme contact MySafeHome.