The Portfolio Holder for Housing & Community Safety presented the report mentioned the decision to approve funding for Round 2 of the “A Home of Your Own” scheme (DIYSO) and included variations to the scheme.  She advised that Round 1 had proven successful and along with the Vice Chairman and Chief Housing Officer she had met the the Deputy Mayor for London as the scheme was being launched by a number of London authorities. Property prices in Sevenoaks were 17 times higher than the average wage earner could afford, and this helped people get onto the property ladder.

The Chief Housing Officer reported that it was an award winning scheme and had been runner up in the national housing awards.  The Housing Policy Manage gave some background to the scheme for Members.

Members noted and considered the relevant minute and recommendations received from the Housing & Community Safety Advisory Committee who had considered the same report.  The Chairman thought it wold be helpful to see the salary/earnings band and how they equated to what people could buy. The Housing Policy Manager agreed to circulate a report soon.

The Portfolio Holder for Economic & Community Development sought confirmation that anyone entering these schemes were signposted or received information on energy savings schemes.  The Chief Housing Officer confirmed that they did get an information pack on schemes such as ‘switch and save’ and various initiatives to encourage insulation etc.

Public Sector Equality Duty

Members noted that consideration had been given to impacts under the Public Sector Equality Duty.

Resolved:  That the following proposed variations be adopted:

‘Variation 1. For applicants who are housing association tenants, the value of the home to be purchased may be up to £350,000.  This enhanced value cap would only apply where the applicant is assessed by Moat as suitable for a 3 or 4 bedroom home and the applicant is actually buying this size of home. The enhanced value cap would only be applied to a maximum of 3 purchases

Variation 2. For all applicants, the minimum initial share of the home to be purchased is reduced to a 35% share.’