Mortgage Sorter
Recommended UK Mortgages


Mortgage Guide Contents

First time Buyers Guide Contents


The New Build HomeBuy scheme for cash-
strapped first-time buyers


The New Build HomeBuy initiative is one of a range of Government schemes set up to give low-paid first-time buyers a chance of home ownership.

How does it work?

New Build HomeBuy is similar to the Social HomeBuy scheme, in that it lets you buy a share in a flat or house and pay an affordable rent on the rest.

With Social HomeBuy, it has to be a property you're already renting, while as the name suggests this version applies to newly built homes.

The minimum you can buy is 25 per cent and 75 per cent is the usual maximum.

Older schemes of this type were known as shared ownership, part buy/part rent or shared equity.

How do I qualify?

New Build HomeBuy is open to key workers (such as nurses, teachers and police officers), social housing tenants and anyone classed as being in priority housing need.

Can I increase my share?

As with Social HomeBuy, you can buy additional shares until you own the entire property this is known as 'staircasing.

What if I want to sell up?

When you want to move on, you can sell your share at its market value to a purchaser nominated by your landlord.

Or if you have 'staircased to 100 per cent ownership, and your landlord doesn't want to buy the property back, you can sell it on the open market in the normal way.

What else do I need to know?

If you bought as a key worker but then change jobs so you lose this status, you are allowed five years to buy the property outright or sell it.

How do I apply?

For more information, contact your local HomeBuy agent.



Click here to find their details.



To find out about other Government HomeBuy schemes, go to

Social HomeBuy
Open Market HomeBuy

 

Want to talk with a mortgage adviser who specialises in helping First Time Buyers?

We can put you in contact with a professional mortgage adviser who will find you your best mortgage. It's free and completely confidential. Simply fill out the form below

Value of Property £  
    (eg 125000)
Borrow How Much? £
    (eg 92500)
Your Morgage Type

 

 

 

Read on about Mortgages for First time Buyers

Intro / What you're getting into

Buying your first home

Be careful out there

Don't just grab the first mortgage you can

Problem: having enough money

100% Mortgages for First Time Buyers

Should I borrow five times my income?

If you have problems paying off your mortgage

Buying as a couple

Already own separate homes?

TIPS for First Time Buyers

Having problems as a First time Buyer? Read some Solutions

UK Government Help, HomeBuy and Key Workers Schemes

 

Read On / Mortgage Guide

Mortgage Basics

Choosing a Mortgage

UK Mortgage Types

UK ReMortgages

How to get Your Mortgage

What is a Mortgage in Principle

Costs and Fees of UK Mortgages

Mortgage Buying TIPS

Calculators

Summary of All UK Mortgage Types

 

Read On

Guide to Home Buying for the UK

UK Mortgage and Home Insurance

UK Life Insurance Guide

Glossary of Mortgage Terms

UK Mortgage News

 


 

 

 

 

 


Read on about Mortgages for First time Buyers

or

See full contents of How to get a Mortgage

or

See contents of Home Buyers Guide

or

I've read enough for now and want to get a free Quick Mortgage Quote



 

Get a custom rate and see
how much you could save by
filling out this quick form
below.

It's a FREE, no-obligation service.

Value of Property
£
 (eg 159000)
Borrow How Much?
£
 (eg 125000)
 Your Morgage Type
   











Browse over 200 Free Mortgage Tips

Your Complete Guide to UK Mortgages
Find Out How to Win the Race to Buy Your Home - Home Buyers Guide
How to Sell Your Home
Learn How to Save ££s by Remortgaging
Read the Insider Info on Home Insurance
Best Buy UK Mortgage Tables
UK Mortgage Calculators
First Time Buyers
Self Employed Mortgages
Bad Credit Mortgages
Overseas Mortgages
Common Questions / FAQs
Mortgage Definitions
Mortgage Lenders UK List
LATEST MORTAGE UK NEWS

Site Help

About Us
Your Privacy
Contact Us
HELP
Mortgage Guide Site Map
Tip Our Charity






Social Bookmark Us (Please ;-))
























 

 

 

 

 

FREE MORTGAGE QUOTES
Call 0845 22 33 112
or Apply Online Fast and Easy
 
Great Selection of
UK Mortgage
CALCULATORS

Click here
  
See Today's Latest
Mortgages
BEST BUY TABLES

Click here