Am I Eligible?
HomeBuy helps people to get their first foot on the property ladder. HomeBuy 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 in the area where you wish to live. Local HomeBuy Agents work with local authorities and other housing associations to provide HomeBuy options to people in housing need.
Your HomeBuy Agent will assess your application and advise you of all the HomeBuy options for which you may be eligible.
Buying a home
HomeBuy helps people, usually first time buyers, who cannot afford to buy a property that suits their household needs on the open market.
All first time buyers may apply. Social tenants who wish to buy a property through HomeBuy are given top priority. Key workers are also given priority.
HomeBuy can also help people who have previously owned properties but are now unable to buy without assistance, for example in the case of relationship breakdowns, or families who are over-crowded in their existing homes.
The maximum income allowed is £60,000 per annum (single or joint). You will need to have access to (or savings) an amount of money to cover the initial costs of buying a home. This amount varies by 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.
Although most homes through HomeBuy are available to all first time buyers, some can only be allocated to qualifying key workers.
Social HomeBuy is only available to existing local authority and housing association tenants.
Any specific information regarding eligibility is usually stated within the property marketing information.