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EMHomeBuy
Schemes
Homebuy Direct
With HomeBuy Direct, you can buy a newly built home on a designated HomeBuy Direct development with assistance of two equity loans. One loan is from the Homes and Communities Agency and one from the house-builder.
You would take out an affordable mortgage (minimum 70% of the total purchase price) on which you make repayments in the normal way. The rest of the purchase price will be paid for with equity loans (maximum 30% of the total purchase price).
More information on Homebuy Direct
New Build Homebuy
New Build HomeBuy, formerly known as shared ownership, is designed to help people who cannot afford to purchase a property outright.
It enables eligible people to usually buy either, 25%, 50% or 75% of a property by way of a mortgage or cash purchase and you will then simply pay a subsidised rent on the remainder.
Should your financial circumstances improve then you could purchase further shares called 'staircasing'. In rural developments staircasing is generally restricted to a maximum of 80%. It is advisable to ask the HomeBuy Agent about any restrictions that may apply to the property.
More information on New Build Homebuy
Rent to Homebuy
The Rent to HomeBuy scheme introduced to offer additional help to first time buyers who are struggling to get a mortgage or to save for a deposit. You rent a new build property in certain areas at 80 per cent of the market rent for a fixed length of time.
When you have finished renting on the terms of the Assured Shorthold Tenancy you can make the first offer to buy the property under the New Build HomeBuy scheme.
