Offers an equity loan so that you purchase
approximately 75% of the equity in a property of your
choice from the open market, subject to criteria. The
remaining 25% is funded through the equity loan with
no interest to pay on that loan. The loan is repayable
at market value when the property is eventually resold.
Open Market HomeBuy is mainly for key workers.
New Build HomeBuy
Offers new homes on a part buy/part rent
basis where you purchase a share in the property, typically
50%, and pay a discounted rent to the housing association
on the remaining share.
Shared Ownership
Shared ownership is a part rent part
buy scheme that allows you to purchase a home that is
affordable to you.
You simply buy an initial share that suits your income
– usually 50% - and pay a significantly reduced
rent on the share you have not purchased. In future,
you can in most cases increase your shares and ultimately
own your home outright.
Key Worker Living (KWL)
Key Worker Living offers 3 simple options
to key workers living in the South East.
These are:
Open Market HomeBuy
New Build HomeBuy
Intermediate Rent
These schemes aim to help key staff in
front line services such as education, health and community
safety.
HomeBuy Agent
HomeBuy Agents can register your interest,
assess your eligibility and provide details of schemes
in your area.
HomeBuy Agents work closely with the housing departments
in your local council and with other housing associations
developing new homes in your area. Acting as a ‘one
stop shop’ we will be able to tell you who in
your area is offering HomeBuy opportunities and how
to apply.
Homebuyer’s Report
A mid range professional survey of the
property which should point any flaws.
Valuation
A survey of a property to confirm it
is suitable for the loan.
Completion
The final stage in the purchase of your
new home.
Contract
An agreement to sell/buy a property.
Becoming binding on completion.
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