What are the HomeBuy Options?

 

There are three types of HomeBuy scheme:

1. New build
Previously known as shared ownership, this allows you to buy 50% of a new property, for example and pay rent on the remaining share to a housing association. You can buy further shares or sell you existing
shares whenever you like.

2. Open market
You fund 75% of your new property through a conventional mortgage and the remaining 25% is underwritten by the government through an equity-free loan.

 

3. Private
Some developers run their own shared ownerships along similar lines as new build.

There are also other schemes promoted by individual housing associations.

 

How do I find out more about HomeBuy?