DOA REF. MERTHYR Living T H E A F F O R D A B L E WAY TO O W N YO U R O W N H O M E. MERTHYR TYDFIL County Borough Council

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1 DOA REF MERTHYR Living Information Pack Application Form T H E A F F O R D A B L E WAY TO O W N YO U R O W N H O M E MERTHYR TYDFIL County Borough Council

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3 The Merthyr Living scheme has been created because Merthyr Tydfil County Borough Council and its partners recognise that first time buyers can often find it difficult to get on to the first step of the property ladder. Merthyr Living is unique to Merthyr Tydfil County Borough Council and is operated by the Housing Associations, private House Builders and the Welsh Assembly Government to provide Low Cost Home Ownership products to people who are in a financially stable position yet still unable to purchase a home outright without assistance. Who Qualifies? We aim to assist as many people as possible. To be able to apply in the first instance you must: Be over 18 years of age Be a UK passport holder or have indefinite leave to remain in the United Kingdom Be able to raise a mortgage with a suitable mortgage lender Have access to enough savings to cover the costs of buying a home, such as solicitors, mortgage arranging and survey fees. We give top priority to people who are: Current tenants of a Housing Association in Merthyr Tydfil County Borough Registered on the Common Housing Register or any other waiting list held by a Housing Association in Merthyr Tydfil County Borough. We can also assist people who do not fall into either of these categories but can demonstrate a local connection to Merthyr Tydfil e.g. currently live or work here, previously lived here or have family that lives here.

4 Although Merthyr Living is targeted toward first time buyers we may still be able to help you providing you do not currently own a property. You will be considered if: You previously owned a home with a partner and the relationship has broken down You need to move to the area due to a job relocation How much do I have to earn? Although there are no minimum income restrictions for Merthyr Living you will need to demonstrate to us that you can afford to purchase a home. If you are interested in purchasing a property that is advertised through Merthyr Living you will be invited to an affordability interview where your financial circumstances will be assessed. You will not be able to proceed with the purchase until the financial assessment has been undertaken and a decision made on your application. Is there a limit on my earning? We will be unable to accept your application if your income or savings are high enough to purchase a similar home outright on the open market. How are properties affordable? There are various ways to purchase a home with us. Products will vary depending on the availability of funding. Merthyr Living Shared Equity Scheme Merthyr Living offers buyers the opportunity to buy part of a property. The remaining share of the property is retained by a housing association or the

5 Council at no extra cost to the first-time buyer. This makes the property more affordable. The share of the property that you would need to purchase will vary between each development, but is usually 75%. Properties are often available through the scheme on new housing developments, but can also be individual older properties depending on available funding and how the properties have been secured for low cost home ownership. As a homeowner you will be responsible for all the usual running costs of the property such as mortgage repayments, utility bills, repairs and general upkeep. You will need to be in a financially stable position to do this. If you wish to sell the property in the future you will only be allowed to sell the share of the property that you own. This way the home will remain affordable to buyers in the future. Merthyr Living Rent First The Rent First scheme provides a mid-market housing solution for people on moderate incomes. The scheme aims to provide a housing solution to those that are in a financially stable position yet unable to purchase a house at the present time due to economic uncertainties. The scheme could also assist in providing assistance towards a deposit if or when the tenant decides to purchase the property as any increase in equity at the time of sale will be split 50/50 between the Housing Association and the tenant. The house must increase in value for there to be a share of any equity, and there is no guarantee that it will. Under the Rent First scheme, rent will be charged at a lower amount than the market rent for an equivalent property. The tenant will be able to purchase the property after a period of three years, providing that they have a satisfactory rent account for at least twelve months. The purchase price will then be the greater of the minimum purchase price (as set out

6 in the Purchase Option Agreement which is signed on commencement of the tenancy), or the value that is determined by an independent market valuation undertaken by a Royal Institute of Chartered Surveyors qualified valuation surveyor, which will be paid for by the tenant. The tenant is however under no obligation to purchase the property. What should you do next? Fill out the Merthyr Living application form in full and return it to us as soon as possible. When completing your application it is important to provide as much information as possible so we can process your application quickly and correctly. If you need assistance with completing the application form please do not hesitate to contact us. Our staff are here to help and aim to provide you with a friendly and professional service. If you are eligible to join the scheme, you will be accepted onto the Merthyr Living register and notified accordingly. Once you are on the Merthyr Living register you will be notified of any new properties that may become available and you will be asked to express your interest in them. You will then be prioritised according to the Merthyr Living criteria and may be asked to attend an affordability interview. If you are approved at this stage, you will then be able to purchase a property.

7 PERSONAL DETAILS APPLI CANT 1 Surname: First Name: D.O.B: Address: Tel (Day): Tel (Evening): Postcode: Mobile: Are you a Britishor EU passport holder? YES / NO If no, do you have Indefinite leave to remain in the UK? YES / NO Are you a first time buyer? YES / NO Do you currently own or part own a property? YES/ NO APPLI CANT 2 (I F JOI NT APPLI CATI ON) Surname: First Name: D.O.B: Address: Postcode: Relationshipto Applicant 1: Tel (Day): Mobile: Tel (Evening): Are you a British or EU passport holder? YES / NO If no, do you have Indefinite leave to remainin the UK? YES / NO Are you a first time buyer? YES / NO Do you currently own orpart own a property? YES / NO WHO WI LL BE LI VI NG WI TH YOU? SURNAME FIRST NAME D.O.B. SEX M / F RELATIONSHIP TO APPLICANT (e,g, Child) M / F M / F M / F M / F M / F

8 EMPLOYMENT DETAILS APPLICANT 1 Are you: Employed: Full-time Part-time Self employed Unemployed Occupation: How long in current job: Employer: Employer saddress: Gross Annual Salary: (before tax and deductions) Net Monthly Salary: (after tax and deductions) APPLICANT 2 (IF JOINT APPLICATION) Are you: Employed: Full-time Part-time Self employed Unemployed Occupation: How long in current job: Employer: Employer saddress: Gross Annual Salary: (before tax and deductions) Net Monthly Salary: (after tax and deductions) INCOME DETAILS Please give details of any other monthly income you receive apart from your salary, (e.g. Benefits, Tax Credits etc.) DETAILS OF INCOME MONTHLY INCOME

9 DETAILS OF LOANS AND DEBTS MONTHLY REPAYMENT Do you have any County Court Judgements registered against you? YES/NO SAVINGS Do you have any savings? YES/NO CIRCUMSTANCES ARE YOU: A Council Tenant A Housing Association Tenant Renting privately Living with friends/family Other If yes, how much? Will you have access to enough funds to cover the costs of buying (at least 2,000)? YES/NO (for example, Solicitor s/valuation Fees) Do you owe any renttoyour landlord? YES/NO - If yes,how much do you owe? Are you currently registered on any housing waiting lists? YES/ NO - If yes, with whom? Is your current property suitable for your needs? YES / NO - If not, why not? PROPERTY TYPE AND LOCATION To help us with your application please take the time to provide us with some further information: Please indicate which areas you are looking to buy a house (please tick all that apply): Merthyr North Merthyr South Mid Valleys (Dowlais, Galon Uchaf, (Town, Pentrebach, Park, (Merthyr Vale, Penydarren, Vaynor, Pant) Abercanaid, Cyfarthfa) Troedyrhiw, Bedlinog) Lower Valleys (Treharris and Trelewis) Type of property required: House Apartment Bungalow

10 Are there any particular areas that you are specifically interested in (eg Dowlais, Merthyr Vale, Treharris?) If so, please state below: Town, Please state your reason(s) for preferring these areas (eg local / family connection, school, proximity to work, good reputation of area etc.) Please use the space below to include any further information that you feel may be relevant to your application: What type of property would you consider? New Build Secondhand Market Property that needs refurbishment How did you find out about Merthyr Living? Website Word of Mouth Newspaper Roadshow Signage TV Radio Other (please state) DECLARATIONS I/We certify that the information given on this form is true and accurate. I/We understand that I/we must notify Merthyr Living if my/our circumstances change. APPLI C AN T 1 Signature: Print Name: Date: APPLI C AN T 2 Signature: Print Name: Date: Mortgage Disclaimer - Your home may be at risk if you do not keep up repayments on your mortgage or any other loans secured on it. Tenancy Surrender - If you are a tenant of a Council or a Housing Association, you must surrender your tenancy and vacate your current home at the same time as you purchase a home with Merthyr Living. Data Protection - We may, from time to time, send your details to other housing providers who may have low cost home ownership properties for sale. Please tick this box if you do not wish to receive this service. Merthyr Living, Civic Centre, Castle Street, Merthyr Tydfil, Mid Glamorgan, South Wales CF47 8AN Tel : or Fax : merthyr.living@merthyr.gov.uk

11 Equality Monitoring Form (to be detachable) In order to ensure that we are providing a fair housing service we would be grateful if you would complete the following information. Q1 Prefer not to complete any questions Tick here... Q2 AGE (young person) Q3 GENDER Are you: Male Female Is your gender identity the same as the gender you were asigned at birth Yes No Q4 ETHNIC ORIGIN (please tick just one box) White British Welsh Irish Any other white background (please tick and write in) Mixed White & Black Caribbean White & Black African White & Asian Any other Mixed background (please tick and write in) Asian or Asian British Indian Pakistani Bangladeshi Chinese Any other Asian background (please tick and write in)

12 Black or Black British Caribbean African Any other Black background (please tick and write in) Gypsy and Traveller Romany Gypsy English Roma Irish Traveller New Traveller Travelling Show person Other (please tick and write in) Q5 SEXUAL ORIENTATION Are you: Bisexual Gay Heterosexual Lesbian Prefer not to state Q6 YOUR RELIGION Please tick the relevant box Buddhist Christian Hindu Jewish Muslim Sikh None Other Q7 Do you consider yourself to have a disability? Yes No Thank you for your co-operation