HomeBuy
HomeBuy is a Government initiative to help people get on the
first step of the housing ladder. If you are considering buying a
home and are a first time buyer, social tenant or Key Worker, a
number of options have been developed. These include:
New Build HomeBuy
(previously known as shared ownership or part buy/part rent).
This scheme allows buyers to purchase a share in the property
through a mortgage and then pay a subsidised rent on the remaining
share.
HomeBuy Direct
Through this scheme, the purchaser buys at least 70% of a new
home with the remaining amount being funded by an equity loan from
the Government and the developer.
Social HomeBuy
Allows Housing Association and Local Authority tenants to buy
their existing home outright or on a shared ownership basis whilst
also benefitting from a discounted market price (please note that
Rochford Housing Association does not participate in this
scheme).
Rent to HomeBuy
Through this scheme, a buyer can rent a newly built property for
around 2 to 3 years at an ‘intermediate rent’ (rent that is no more
than 80% of current market rent) with the option of purchasing it
after this time. This enables a potential buyer to save for a
deposit whilst paying a reduced rent (please note that Rent to
HomeBuy is a pilot scheme and is not currently available in the
District).
First Time Buyers Initiative
This helps first time buyers to own a share of a newly built
property. The scheme is similar to other shared ownership schemes
and enables Key Workers (and other eligible groups) to buy a share
of a home. Through this scheme, a buyer must purchase at least 50%
of the property.
Home Ownership for People with Long-term Disabilities
(HOLD)
This scheme is specifically designed to help people with long
term disabilities buy a share of a home.
Resales
If an existing owner of a HomeBuy property wishes to sell their
home, their share can be purchased from the Housing Association who
owns the other share. Please contact the Housing Association
directly for further information on available properties.
Further information:
Rochford District Council does not operate HomeBuy products
directly. However, if you are interested in buying a home through
one of these schemes and want detailed information, please contact
Moat Homes Limited (the HomeBuy Agent for Essex). Alternatively,
please click on the link below.
- Moat Homes Limited
- Telephone Moat on 0845 359 6161
- Monday to Friday 9:00am until 5:00pm
If you wish to apply for a New Build HomeBuy property (and the
Council has nomination rights to it), you will need to join the
Council’s Housing Register. If you would like further information
please telephone 01702 318052 or 318067.