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Affordable Home Ownership

Affordable Home Ownership

New schemes to help you get on the property ladder

There is now an exciting range of schemes to help people access affordable (low-cost) home ownership. This includes New Build Homebuy (formerly known as shared ownership), Open Market Homebuy, Rent to Homebuy and First Time Buyers Initiative. Anyone who cannot afford to buy a home on the open market can apply. However, priority will be given to council and housing association tenants who will vacate their homes and to eligible key workers.

Applications are also welcome from:

• People living with parents or relatives
• People living in private accommodation
• People who need to move for work reasons
• Homeless people living in temporary accommodation

Applications are also welcomed from first time buyers.

How does it work? 

Schemes generally work by allowing applicants to purchase an initial share of the property (normally around 25%) and to pay a subsidised rent on the remaining share. Additional shares may be purchased later (this is known as staircasing).

How can I apply?

There are a variety of schemes available, each with different terms, access to which is via a single application to Housing Options.

Visit www.housingoptions.co.uk or call 0845 230 8099 for further information or to check if you qualify.