Home Owners

This page outlines the support available to people affected by Gateway’s plans to improve Hull’s housing market and create more great places to live in the city.

A package of support is available once Gateway and Hull City Council have confirmed that they wish to buy your home as part of the redevelopment of the area.

The package includes financial and practical assistance to help you find and move to another home of your choice.

If you own your own home and have lived in the property continuously for at least one year, the financial help on offer includes:

  • The market value of your existing property - as agreed between your own independent surveyor and a surveyor working on behalf of Hull City Council.
  • Home loss compensation of £4,700 or 10% of the agreed market value of your home - whichever is the greater.
  • Up to £250 towards the cost of independent financial advice.
  • Reasonable legal and valuation fees will also be paid in full.
  • A disturbance payment to compensate you for the cost of moving home (see frequently asked questions).

In addition, you may be able to access Hull Home Assist, an equity mortgage scheme specially created for people affected by Gateway’s regeneration plans.

  • Hull Home Assist could help you bridge the gap between the value of your existing home and the one you want to buy.
  • It’s different from a repayment mortgage or shared ownership because there are no monthly or annual repayments.
  • Instead, the amount borrowed is noted as a legal charge on the deeds to your home in the same way as a conventional mortgage is noted.
  • The maximum amount you can access under the equity mortgage is £62,500 or 50% of the purchase price of your replacement home, whichever is the lowest.
  • The total amount of financial assistance including the market value of your existing home + home loss compensation + equity mortgage must not exceed £125,000.

More information on property prices in the area can be found at www.thisishouseprices.co.uk.

For more details please contact your local regeneration team on:

  • Newington and St Andrew's Regeneration Team - 200 Hawthorn Avenue, Hull. Tel: 01482 211199
  • East Hull Regeneration Team - 100 Bellfield Avenue, Hull. Tel: 01482 318418
Home owners