What is the Home Ownership for People with Long Term Disabilities Scheme?

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What is the Home Ownership for People with Long Term Disabilities Scheme?

Not many people seem to know about the Government's Help To Buy Scheme for People with Long-Term Disabilities. Yet, it could offer long-term security for eligible people.

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This is an information page and does not offer investment advice. Seek advice & do your own research regarding suitability of the HOLD scheme for your situation.

Why do so few people know about the HOLD scheme and what is it? MySafeHome states that since 1999 they've helped 1,300 people own a home in this way, which seems like a small number over such a long period. So what is involved and what could the HOLD scheme offer you?

HOLD stands for "Home Ownership for people with Long-term Disabilities." It is a Government shared ownership scheme for affordable housing. If you are eligible and the property in question meets your needs - whether it comes via a housing association or the open market - you can purchase via this specialist Shared Ownership model. Properties can come from new estates developed by Housing Associations or the ‘open market’ via a traditional Estate Agent. 

The key benefits of this kind of home ownership over renting are the ability to choose where and how you live the rest of your life (subject to the availability and affordability of a suitable property of course) and the chance to make adaptations and decorative changes to their property to meet all of your needs and make it really feel like home. 

When researching this topic, every information page leads to MySafeHome - which is a private mortgage broker organisation for this specialist kind of mortgage. They know the scheme and are able to advise Help To Buy agents or shared ownership property providers who haven't heard about it. 

Eligibility for the HOLD Scheme

To be eligible, you need to be on HIGH or MIDDLE RATE Care (DLA) or the equivalent Personal Independence Payment (PIP) and one or more of: Income Support, Incapacity Benefit, Severe Disablement Allowance or Pensions Credit. And you have to be moving to a new property; this scheme won't allow you to buy the property you're already living in. Critically, if you have work or are employed you will not be eligible - you'd need to consider another shared ownership scheme.

There is an allowance for one bedroom for a carer. So this may restrict your options if you are buying on behalf of a family and only one person in the family has a disability.

You will still need a savings pot to pay for your share of the house - which will be between 25-75%. You will need to pay a deposit on your share and arrange a mortgage for the rest - which you can do via MySafeHome. (You can go to another broker, though we don't know if you'll find one that will know about or cover this type of mortgage.) The mortgage is an interest only HOLD mortgage.

Then you pay rent and any service charges on the remaining share. It may be that your housing benefit and/or Universal credit will cover the rental and service charges.

The rental proportion is covered by Housing Benefit (with a top up from the buyer’s other benefits) and the mortgage by SMI (Support for Mortgage Interest - read more about SMI here). SMI is a loan provided by DWP (Department for Work and Pensions) that’s repaid only when the property’s eventually sold. The sum payable cannot exceed the equity left in the property once the Housing Association and mortgage provider’s received their money so any excess will be written off. 

You will need around £15k - £20k in savings to pay for the deposit and purchase fees, such as the solicitor conveyancing fees, local searches and mortgage fees. At time of writing (Apr-21) MySafeHome has a fee of £3,850. For a mortgage broker, you could go to a mainstream broker, though it's unlikely you'll be able to get a mortgage with no work income. MySafeHome is the specialist, private lender, in England and Wales. 
If you’re in Scotland you can contact Ownership Options on 0131 661 3400 or e-mail them at PDFs at the bottom of this page, are helpful as they provide an example breakdown of costs.

Find Out More

To find out more, click on the links below:

  • Government HOLD scheme page. And Local Government Association Factbook.
  • Help To Buy Agent HOLD information page.
  • Advance Housing Association information page - a housing association that claims to be the foremost provider of HOLD.
  • MySafeHome information page. Their website states that they are the leading provider of help and support for people with  a disability who want to buy their own home. Most information pages on the internet lead to their website. They also have an FAQs page with further information to answer questions.
MySafeHome HOLD Information Sheet
1. MySafeHome HOLD scheme guidance document for areas outside London.

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MySafeHome LONDON HOLD Information Sheet
2. MySafeHome (London Version) information overview explaining how the HOLD scheme works in London.

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MySafeHome HOLD scheme Easy Read Leaflet v1 2020.pdf
3. MySafeHome (Easy Read Version) information overview explaining the HOLD scheme.

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Article Last Updated:  01-Sep-2021