Home Ownership

Did you know that as a housing association tenant you have priority under the scheme.

The first step is to get in touch with your government-appointed HomeBuy Agent covering the area in which you want to live. They will explain the finer details of the scheme, as well as processing your application.

Once registered and accepted for the scheme, your HomeBuy Agent will guide you through the process of applying for a new HomeBuy home.

Hampshire & Isle of Wight

www.homesinhants.co.uk

023 8062 8004

Berkshire, Buckinghamshire, Oxfordshire & Surrey

www.catalysthomebuy.co.uk

0845 601 7729

Kent & Sussex

www.homebuy.co.uk

07002 662 846

Dorset & the South West

www.southwesthomes.org.uk

0300 100 0021

So, what exactly IS shared ownership? Under these schemes, you buy a share of your home and then pay a regular rental fee on the remaining share. Naturally, people generally need to take out a mortgage to pay for their share of the home’s purchase price, and they then pay rent on the remaining share. Effectively, this of course means that a part of the house is theirs, rather than the property in its entirety.

This means that having to raise a mortgage for what is effectively often as little as 25 or maybe 40 per cent of the house, with only a 10 per cent deposit, can be attractive and make owning your own home much more achievable, and indeed, affordable.