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What is New Build HomeBuy (Shared Ownership)?

April 26, 2017build homebuy ownership Shared

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What is New Build HomeBuy (Shared Ownership)?

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New build HomeBuy (Shared Ownership) is a form of low cost home ownership generally provided by Housing Associations, which is designed to enable people to take the first step into homeownership. New build HomeBuy allows people to buy a share between 25 to 75% in the property, and the Housing Association owns the remaining share. The Housing Association charges a monthly rent on the remaining share. New build HomeBuy allows the owner to buy further shares in their property from the Housing Association, this is known as staircasing. For further information on New build HomeBuy/Shared Ownership contact: Key Homes East On 0845 5466757 or www.keyhomes-east.org.