HomeBuy low cost housing (shared ownership)

	HomeBuy low cost housing (shared ownership)
	HomeBuy helps people get their first foot on the property ladder. It also helps those people who wish to rent but cannot afford to pay market rents. If you are interested and wish to apply you should contact the Local HomeBuy Agent (external website) in the area where you wish to live. Your HomeBuy Agent will assess your application and advise you of all the HomeBuy options for which you may be eligible. HomeBuy information leaflet (Pdf 246kb) Buying a home HomeBuy helps: first time buyers key workers (external website) social tenants people who have owned a property but are now unable to buy without assistance The maximum income allowed is £60,000 per annum (single or joint). You will need to have savings or access to an amount of money to cover the initial costs of buying a home. This amount varies depending on the Local HomeBuy Agent but is likely to be around £3,500/£4,000. Renting a home Eligibility for renting a home through HomeBuy can vary between different schemes. For example, under Rent to HomeBuy you will be assessed in the same way as if you were buying a share in the property (but with no requirement for savings). For discounted rent, you will need to demonstrate that you can afford to pay the monthly rent and service charge payments. General Some homes can only be allocated to people with a local connection (live, work or family connection) to the local authority area in which the property is located. For more information about the schemes available visit www.homebuy.co.uk (external website).