New Build Homebuy
New Build HomeBuy offers new homes on a part rent/part buy basis (also known as shared ownership). A share in a property is purchased, typically 50% (the initial share can vary between 25% to 75%) and a discounted rent is paid to the landlord on the remaining share. Usually this is calculated at a percentage per annum of the equity retained by the landlord.
If you are considering New Build HomeBuy you must be able to raise a mortgage or use savings to meet the purchase share. A share of the property that is being sold is decided by the housing association selling them, the amount of the share is based on a price based on its current market value.
Owners are able to purchase further shares at a later date. (known as staircasing). This allows leaseholder owners to eventually purchase 100% of the property and become freehold owners. Please note this is not always possible in some rural areas where planning restrictions can limit the total percentage which can be purchased.
To view properties being advertised for sale in your area please click on the 'property search' icon on the above toolbar and select the local authority area you would like to live in and select search.
Owning your own home is still within reach
