Low Cost Home Ownership

 

The government has introduced a range of low cost home ownership schemes such as shared ownership, which are now called HomeBuy.

 

These schemes help people buy their own properties which are usually run by housing associations. This usually involves a part-rent, part mortgage arrangement. Most people who apply for HomeBuy are first time buyers but assistance may be provided if you need a property in a situation where a household has outgrown existing arrangements or where a home is needed following a relationship breakdown.

 

Priority for schemes is given to existing council tenants, housing association tenants, those registered on local authority waiting lists and sometimes to those people who live and work in a specific area.

 

 

There are two ways in which you can find out more information about shared ownership/HomeBuy: