Metropolitan

Clapham Park leaseholder buy-backs

Here are details of the options available for leaseholders of homes that are due to be demolished as part of our plans to regenerate Clapham Park.

Under all of these options we will:

  • buy your home at full open market value;
  • pay a homeloss payment of 10% of the value of your flat if you live in the property (up to the current maximum of £61,000)
  • pay you a disturbance payment for reasonable moving costs of up to £4,000.

Shared Equity

We would grant you a lease on a shared equity basis on one of the new homes to be built at Clapham Park or another property outside the area, depending on availability.

The minimum share you can buy is 60% of the value of the new property. Unlike shared ownership (see below) you don’t pay any rent on the share of the property you don’t own. You are, however, responsible for all other related costs in full, including repairs and maintenance, service charges and buildings insurance.

Shared Ownership

With this option you own part of the property and pay rent on the share you don’t own. You can buy on this basis in Clapham Park or another area, depending on availability through Metropolitan or another housing association. Depending on what type of property you buy, you may also have to pay service charges for any communal services or Buildings Insurance.

Become a Metropolitan tenant

We would re-house you in one of the newly built or refurbished homes either in Clapham Park or another area, subject to availability. You would become a tenant and pay rent and any relevant service charges.

Leave Clapham Park

We buy your home and you move away from Clapham Park. You would organise your own onward purchase/property.

 Other useful websites

You can check out properties on the market at:

www.rightmove.co.uk

www.primelocation.com

www.sharetobuy.com

www.mho.co.uk

To find a RICS qualified surveyor near you, go to:

https://www.ricsfirms.com/
If you’d like to talk through the options to see which is best for you, please call us on 020 3535 5000 or email us claphambuybacks@metropolitan.org.uk.