HomeBuy is the government’s range of low cost home ownership
schemes developed to make home ownership more affordable. It helps
social tenants, key workers and first-time buyers to get onto the
housing ladder.
You apply for HomeBuy products through the
HomeBuy agent for this area.
If you are unable to purchase a property on the open market
without assistance, you may be eligible for one of the
following:
-
FirstBuy (new window) - an equity loan
designed to help first time buyers into affordable home
ownership by purchasing a brand new property from a house
builder or developer.
-
HomeBuy Direct (new window) -
purchasers buy specific new build properties with an equity loan
of up to 30 per cent of the purchase price, with the loan
jointly funded by the government and the developer.
-
Shared Ownership (new window) - is an
opportunity for those who want to get a foot on the property
ladder but can’t afford to 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.
-
Intermediate Rent (new window) - this
option offers new build homes to rent at 80% (or less) of
typical market rents. Homes are available through a range of
housing associations on an assured shorthold tenancy, usually
for an initial period of six months.
-
Rent to HomeBuy (new window) - this option
offers new build homes to rent for a pre-defined period of time
with the expectation that you will buy a share of the property
at the end of the rental period.
-
Social HomeBuy (new window) - enables
housing association and local authority tenants to buy their
home on a shared ownership basis or outright, with the benefit
of a discount.
- Armed Forces
Home Ownership Scheme (new window) - enables qualifying
Service personnel to buy a property on the open market with a
conventional mortgage and with help from the Homes &
Communities Agency in the form of an equity loan secured against
the property. The scheme is delivered through Swaythling Housing
Society Ltd.
Orbit HomeBuy Agents
Orbit HomeBuy Agents are the HomeBuy agents for Suffolk,
Norfolk, Cambridgeshire and Bedfordshire. You can find more details
about each of the HomeBuy products and how to apply on their
website or by calling 0345 850 2050.
Orbit Homebuy Agents are part of
Orbit
First Step (new window) - a division of the Orbit housing
association specialising in low cost home ownership.
The government's
Homes and Communities Agency (new window) is
responsible for the HomeBuy scheme and for government investment in
affordable housing in England.