The HomeBuy and Shared Ownership schemes have been be replaced by new Low Cost Home Ownership schemes
- HomeBuy is now Open Market HomeBuy
- Shared Ownership is now New Build HomeBuy
- A new scheme for housing association tenants is called Social HomeBuy
An organisation called Keyhomes East has now been appointed as the region’s HomeBuy Agent and they will provide a one-stop-shop for people who are interested in these schemes. You can phone Keyhomes East on 0845 456 6757 or you can log on to www.keyhomes-east.org.uk to register with them and to see current information about HomeBuy properties available in the region. This information is constantly updated by Housing Associations as they complete new homes. When a new home becomes available, the HomeBuy Agent will tell the Housing Association about enquiries for a home in that area so that everyone on their register has an opportunity to apply for a suitable home.
Key worker housing
Your job may mean that you are eligible for help in finding a home at a price you can afford.
The government is keen to ensure that public services are able to maintain the best level of service. In order to achieve this, it is important that the high cost of housing does not prevent key workers from taking-up or keeping their jobs in public service.
Some new homes in this area are intended for key workers, broadly defined as essential public sector workers. They include health workers, social workers (and some related roles), teachers in publicly funded schools, police officers (and some non-uniformed roles) and fire-fighters.
Keyhomes East is a specialist team responsible for administering the key-worker scheme and providing statistics on key workers’ housing need in this area. If you think you may qualify, you can telephone Keyhomes East on 0845 456 6757 or you can log onto www.keyhomes-east.org.uk to register with them and to see current information about the properties available in the region
They can provide you with all the advice and information you need to find out if you are eligible for this type of housing assistance and how you can apply.
New Build HomeBuy
Shared Ownership is now known as New Build HomeBuy. Like the old Shared Ownership scheme:
- a housing association builds or buys a property;
- the applicant pays a share of the market value (usually 50 percent) for a long lease (usually 99 years);
- the applicant pays rent for the RSL’s share;
- the applicant may buy more over time and could eventually own the whole property.
Keyhomes East is the region’s HomeBuy Agent and they provide a one-stop-shop for people who are interested in New Build HomeBuy. You can phone Keyhomes East on 0845 456 6757 or you can log onto www.keyhomes-east.org.uk to register with them and to see current information about the properties available in the region.
Open Market HomeBuy
The HomeBuy scheme is now called Open Market HomeBuy Like the old HomeBuy scheme:
- the applicant buys a home on the open market;
- the housing association lends the applicant 25 percent of the price paid;
- the applicant repays 25 percent of the selling price when the home is sold;
- the applicant does not pay rent or interest to the housing association.
Keyhomes East is the region’s HomeBuy Agent and they provide a one-stop-shop for people who are interested in open Market HomeBuy. You can phone Keyhomes East on 0845 456 6757 or you can log onto www.keyhomes-east.org.uk to register with them and to see current information about the properties available in the region.
Social HomeBuy
The Social HomeBuy scheme allows housing association tenants to buy their current home at a discount. The landlord may offer the home outright or on shared ownership terms with a minimum share of 25 percent. The Housing Corporation website http://www.housingcorp.gov.uk/server/show/nav.554 has more information about this scheme:
- Registered social landlords have discretion whether to offer the scheme to their tenants.
- Eligibility criteria are the same as for Right to Buy and Right to Acquire.
- Like the New Build HomeBuy scheme, the applicant pays a share of the market value (usually 50 percent) for a long lease (usually 99 years).
- The applicant pays rent if the registered social landlord retains a share.
- The applicant may buy more over time and could eventually own the whole property.
To apply for the scheme, you should contact your existing landlord.
