Affordable Ownership

Kensington and Chelsea is the most expensive residential property market in the country for both renting and buying property.

The local housing options for people who do not meet the criteria for rented social housing are very limited. The result is that there is a shortage of affordable housing for people on moderate incomes who have a local connection.

The Council's Housing Strategy supports the development of balanced communities by promoting the supply of affordable housing for rent and for sale.

National housing policy recognises the need to provide assistance to key workers in areas where housing prices would otherwise prevent them from living in or near the communities they support.

For these reasons, the Council funds and supports the development of affordable ownership schemes for people who cannot afford to purchase property on the open market without financial assistance and who would have low priority for rented social housing.

Who is eligible?
What is affordable ownership?
What sort of properties are available?
Personal and financial requirements
How are people selected for properties?
The Affordable Ownership Register
Affordable Ownership Registration Forms
Consider all your housing options

Who is eligible?

You are eligible to register on the Council's Affordable Ownership Register if you are:

in temporary accommodation provided by Kensington and Chelsea Council and the Council has accepted a duty to rehouse you
a Kensington and Chelsea Council tenant who is willing to give vacant possession of your current tenancy
a housing association tenant living in Kensington and Chelsea who is willing to give vacant possession of your current tenancy
a housing association tenant who has been permanently rehoused by Kensington and Chelsea Council outside the borough who is willing to give vacant possession of your current tenancy
key worker as defined by the Council - teachers in LEA schools; NHS staff, including GPs, providing health services in Kensington and Chelsea; Police, Fire Service, Ambulance Service staff working in Kensington and Chelsea; staff nominated by Kensington and Chelsea Social Services; foster carers and adoptive parents nominated by Kensington and Chelsea Social Services
a Kensington and Chelsea resident who has lived in the borough for at least the last six months.

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What sort of properties are available?

Properties are either newly built, as part of a development of housing, or houses which have been bought on the open market, for example, ex-Right to Buy properties.

They are usually flats, with one or two bedrooms. Some are adapted for people with mobility difficulties.

Shared ownership properties also become available through re-sales, when an owner decides to sell.

The prices for affordable ownership properties are based on an independent market valuation. This means that larger properties will cost more than smaller properties, and that newly built properties will usually cost more than similar 'second-hand' properties.

Most properties are in Kensington and Chelsea but, increasingly, properties are becoming available in other London boroughs, such as Ealing, Walthamstow and Hounslow. Properties outside Kensington and Chelsea are significantly cheaper.

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Personal and financial requirements

Applicants must be:

at least 18 years of age
a British or EU citizen, or with 'indefinite leave to remain'
a first time buyer. If you already own a home anywhere in the world, you must be willing to sell your share in it.

As most people will require a mortgage to purchase property, you cannot apply if:

you have County Court judgements registered against you and you have not repaid the debt - if you have, you will need to provide a Certificate of Satisfaction from the Court
you have had a home repossessed
you have negative equity which cannot be repaid or resolved with your lender
you have been made bankrupt in the last six years
you are self employed and do not have audited accounts for the last two years and a projection for the current year, or copies of your tax return for the last three years.

Each scheme will have different minimum income requirements, depending on the cost of the development and the market value of the properties.

As a general rule, you need a minimum income of:

£15,000 if you are single
£19,000 if you are applying as a couple.

If you have children, you must add £2,000 for each child to these amounts.

You will also need at least £2,000 to cover legal costs and survey fees.

If you cannot get a mortgage because, for example, you have retired, you will need sufficient savings to be able to buy at least a 25 per cent share of the property.

These are minimum amounts: you may need a higher income and more savings, depending on the scheme.

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How are people selected for properties?

The Council has decided that properties will be made available as follows:

50 per cent to key workers as defined by the Council
50 per cent to Council and housing association tenants, and Kensington and Chelsea residents, with priority given to Council and housing association tenants.

The Affordable Ownership Register

You need to register on the Affordable Ownership Register to be considered for all appropriate affordable ownership schemes.

You can also register on the Council's Statutory Register (the 'Housing Waiting List') but there is no advantage in doing so for the purposes of affordable ownership.

It is important to realise that inclusion on the Affordable Ownership Register does not mean that you will be offered a property to buy. Registering on the Register should be seen as one of your options to find housing. It is unrealistic to see it as your only or main way of finding a home.

You can enrol on the Affordable Ownership Register if you are:

over 18 years of age
have an income of at least £15,000 for a single person and £19,000 for couples
savings of at least £2,000
have lived in Kensington and Chelsea for at least the last six months
or are a key worker (teachers in a RBKC LEA school, NHS, Police, Fire, Ambulance staff working in Kensington and Chelsea, or staff nominated by Social Services).

Affordable Housing Registration Forms

[ see information about

PDF files ]




	Information for Applicants	(208Kb)

	Affordable Ownership Application Form	(199Kb)

	Form A - Public Sector Tenants	(188Kb)

	Form B - Key Workers	(188Kb)

Return the forms to:

Affordable Ownership
Housing Needs Group
Town Hall Hornton Street
London
W8 7NX

Contact the Housing Department for more information: Housing Needs.

Consider all your housing options

Given the cost of housing in Kensington and Chelsea, the small number of affordable ownership properties available each year and the number of people interested, it makes sense to consider all your housing options and not to rely only on affordable ownership schemes.

Depending on the number of properties available and the number of people who have higher priority than you, you may never be offered a property to buy. You should see registering on the Register as one of your options to find housing. Do not rely on it as your only or main way of finding a home.

Housing