Borough Council of Wellingborough

Finedon Road closure

Please be aware that Network Rail are closing Finedon Road from 22 March, to replace their bridge to enable electrification of the line.

Market Housing & Self Build

Help with Market & Self Build Housing

Equity Loan Scheme

This scheme is for new build properties only

You buy 100% of a new home from a registered developer. You only have to raise 80% of the purchase price initially. The Help to Buy Equity Loan scheme is open to both first time buyers and existing homeowners. There is no income cap for applicants and you can buy a new-build property with a value of up to £600,000.

The scheme helps you to buy your home with an equity loan of up to 20% of the full price of the property although lenders usually require you to have a deposit of 5%, leaving you typically with a 75% mortgage.

You do not have to pay any interest charges on your equity loan for the first five years and from year six you will start paying a monthly administration charge.

Shared Ownership

This scheme is also known as part buy/part rent

You normally buy a share between 25% and 75% of a new home from a registered provider then pay a subsidised monthly rent to the housing association. The share you buy is calculated by the registered provider or help to buy agent. You will need to raise a mortgage for the share you want to purchase unless you have sufficient savings of your own to buy your share outright. Please note that for some shared ownership properties require you to show a local connection to the area.

Website address is:

Starter Homes

Availability: Area England Only

If you are a first-time buyer the Starter Homes scheme helps you buy a new-build home with a 20% discount. The maximum cost of a home outside of London is £250,000. Starter Homes may not be available in your local area.

Custom & Self Build

The Government is supporting private individuals or groups of people to commission the construction of their own homes.  There are a variety of self-build models from undeveloped plot, foundations laid, building shell to choosing just the internal finish. The properties can be constructed by a builder, contractor or package company or physically built by the individual or group (with or without the help of sub-contractors) while some models of self-build allow you to help in its construction which gives a discount on the final market price. Custom and self-build properties on rural exception sites maybe subject to local connection and all self-builds require the property to be your main residential dwelling.  

The Council is compiling a register of people who are interested in self- build, if you wish to be added to this register please follow the link to the Self & Custom Build webpage.