Affordable Housing & Homebuy
We also work closely with Housing Associations to provide mortgage advice to applicants interested in many of the various affordable housing schemes, otherwise known as Homebuy, that are available to them.
Homebuy is the name the Government has given to the suite of housing options available to people who wish to purcase a home but cannot do so without financial assistance.
Your Homebuy options:
Newbuild Homebuy: This option offers brand new homes for sale on a part buy/part rent basis. Normally you purchase between 25% and 75% of the property's market value and you pay a rent on the remaining share.
Rent to Homebuy: This option offers new build homes to rent for a period of time with the expectation that you will buy a share of the property at the end of the rental period.
Homebuy direct: This option offers equity loans towards the purchase of a new build home on selected developments. You buy a minimum of 70% of the market value of the property and an equity balance loan of up to 30% is provided to assist you with the balance. The equity loan is interest free for the first 5 years.
We specialise in mortgages for all forms of affordable housing
Please Note these schemes are available only on certain properties in certain areas and you must meet certain eligibility criteria such as being a first time buyer, key worker and household earning of under £60,000.