The leaseholder support scheme
Subsidy reference SC10854 - grant funding of registered social landlords in the purchase of properties to support leaseholders in significant financial hardship via the leaseholder support scheme.
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Point to note
If you are using this scheme to provide awards of subsidy, you must inform the Subsidy Control Unit – email: scu@gov.wales
1. Region
Pan Wales
2. Title of subsidy scheme
The Leaseholder Support Scheme
3. UK legal basis
Section 18 of the Housing Act 1996, and sections 58A and 60 of the Government of Wales Act 2006, to establish the scheme.
4. Objectives of the scheme
This subsidy scheme is for the grant funding of registered social landlords in the purchase of properties to support leaseholders in significant financial hardship via the Leaseholder Support Scheme.
5. Public authority(ies) authorised to implement the scheme
Welsh Government
6. Category(ies) of eligible enterprise
Registered social landlords that have demonstrated their commitment to the Scheme by signing up to a partnership agreement with Welsh Government.
7. Sector(s) to be supported
Real estate activities
8. Duration of the scheme
2 May 2023 to 31 March 2025
9. Budget for aid under the scheme
£30,000,000
10. Form of support
Direct grant and loan
11. Eligibility terms and conditions
Eligibility is open to those registered social landlords demonstrating their commitment to the scheme by signing up to a partnership agreement with Welsh Government. This agreement confirms the registered social landlord’s continued support for the scheme and their intention to participate in the scheme in accordance with the agreed principles and arrangements.
12. Basis for calculating subsidies
Milestones and targets are laid out as per the Partnership Agreement and the Grant Award Letter that accompanies the funding allocation. The registered social landlord will purchase properties identified through the Leaseholder Support Scheme and will confirm the date of completion as outlined.
The purchase price of the property will be covered by a 50:50 split of loan and grant funding to the registered social landlord. As agreed by the sector, an adaptation of the Standard Viability Model used by the Social Housing Grants team is used to calculate this.
13. Maximum subsidy allowable under the scheme
£5,000,000
14. Contact information
Subsidy Control Unit
Welsh Government
Cathays Park
Cardiff CF10 3NQ
United Kingdom
Telephone: + 44 (0)3000 604 400
Email: subsidycontrolunit@gov.wales
Rydym yn croesawu galwadau a gohebiaeth yn Gymraeg / We welcome calls and correspondence in Welsh.
