HomeBuy Options
New Build HomeBuy (formerly Shared Ownership)
New Build HomeBuy is a fantastic opportunity if you want to get a foot on the property ladder but can’t afford buy a home on the open market. It allows you to buy a share in a brand new leasehold property (either a house or an apartment) on a part buy/part rent basis and pay a subsidised rent on the part that you do not own.
You can buy an initial share of between 25% and 75% of the property and pay rent to your Registered Social Landlord on the remaining share. The bigger the share you buy, the less rent you have to pay. You will need to be able to raise a mortgage for the share you want to purchase unless you have sufficient money of your own.
In most cases, as you become able to afford it, you can buy additional shares until you own the property outright. This is known as ‘staircasing’.
Resales
From time to time, properties originally sold under New Build HomeBuy become available for resale. If you have expressed an interest in New Build HomeBuy, we will send you details of Resale properties that match your housing needs.
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Last updated: 21-10-2009
