New Build HomeBuy
New Build HomeBuy (part-buy, part-rent) is designed for first-time buyers and key workers, who are able to raise a mortgage but are unable to afford the full cost of home ownership.
The great thing about New Build HomeBuy is that you can, in the future, buy further shares and eventually own 100% of your property. This is called Staircasing.
Shares normally range from 25% to 75% of the total property value. Subsidised rent is then paid on the remaining share you do not own.
Some of our part-buy, part-rent properties are specifically available for key workers. Key workers are usually people who work to improve the education, health and safety of our communities such as teachers, police and nurses.
|
Static HomeBuy
Static HomeBuy is a‘part-buy rent-free’ option which means you usually buy an initial fixed share of 75% in a property and don’t have to pay rent on the remaining share.
You also have the opportunity of increasing your share, ultimately owning 100% of your property. This is called Staircasing.
Static HomeBuy can be available to first time buyers and key workers depending on the eligibility criteria for each development.
|
Resales
The 'resale' of an existing New Build HomeBuy property (part-buy part-rent) is where the owner(s) of the property wish to sell it on.
If you are interested in purchasing a property in this way, you will be able to buy the same percentage share as the previous owner(s) and pay a subsidised rent on the remaining share.
With resale properties, you also have the option of buying further shares in the future. This is called Staircasing.
|