What is Homebuy?
Homebuy is the name given to the government-funded schemes offered by Home2Own. At the moment, these schemes fall into the following categories: New Build Homebuy & Resales – formally known as “shared ownership” or “part rent/part buy”. The scheme allows you to buy from a Housing Association or private developer, a share in a property which has been especially developed for this scheme using a mortgage and/or savings. The remainder share is then rented from the Housing Association or Developer. The properties are usually offered on a 25%-75% basis. If you wish, you can buy additional shares in your home at any time until you own 100%. Open Market Homebuy -Two new products, which are backed by the Government, have just been launched to help eligible applicants buy their own home. These two new products are part of the Government’s Open Market HomeBuy initiative and offer key workers and other first time buyers access to an equity loan of up to 50% of the property’s value. Ownhome Ownhom
