The Accelerator scheme offers successful applicants the chance to take a three year lease of one of our rental properties at 65% of the market rent. This will enable someone to save significantly more towards a deposit during this period and this deposit will then be topped up by Dolphin Living at the end of their tenancy and where they will move into home ownership.
Each applicant must live or work in Westminster, be able to demonstrate that they have savings of £22,500 and qualify for intermediate housing in the City of Westminster. The income threshold for applications reflects the Mayoral intermediate limit of £90,000.
Depending on the growth of the London housing market the final deposit amassed by the participant could be between £43,000 and £77,000, with the intention of using this towards the purchase of a property within Greater London, either through full or shared ownership.
All properties run by us for this scheme will continue to be used for the same purpose following a tenant’s three year occupancy, so the next prospective applicant can benefit from the Accelerator in the same way.