"The Easy Way to Get Your Best UK Mortgage"



Bookmark This


Google Feeds


Yahoo Feeds


AOL Feeds


Newsgator Feeds
About Us
Your Privacy
Contact Us
Tip Our Charity
This website is Approved by Cradon Investments Ltd Authorised and Regulated by
the Financial Services Authority FSA No: 300505


TrustGuard

Mortgage Guide
Click for Full Contents

First time Buyers Guide
Click for Full Contents

Government ‘HomeBuy’ assistance for cash-strapped UK first-time buyers and Key Workers

If you are on a low income or need to live in an area with high property prices, you may be wondering if you'll ever be able to afford a home of your own.

But don't despair

A range of Government-backed ‘HomeBuy assistance’ schemes have been set up to help buyers just like you climb onto the housing ladder.

They offer an affordable alternative for people including key workers (ie key public sector workers like the police, nurses, firefighters and so on) whose earnings would be unlikely to qualify them for the size of mortgage necessary to buy in the traditional way in their chosen area.

They also apply to social tenants and those on the housing register

How ‘HomeBuy’ schemes work

Although the details vary, these schemes work in one of two fundamental ways
Type one: buy and rent

You get the chance to purchase an affordable share of a flat or house, instead of having to shell out for the entire property.

You get a mortgage in the normal way to fund the part you're buying and pay rent on the remaining portion
.

Type two: buy with an extra loan

You get access to additional low-cost funding, which runs alongside your mortgage, making it easier to afford a home of your own.

 

The different schemes

At the time of writing, there were three schemes, one with a couple of variations
Social HomeBuy

This is a buy-and-rent scheme designed to help tenants of participating councils and housing associations buy their existing homes.
New Build HomeBuy

Another buy-and-rent scheme, this was set up to help qualifying first-time buyers and others purchase newly built homes from participating builders/landlords.
Open Market HomeBuy

There are two Open Market HomeBuy schemes, but both provide extra low-cost funding from your mortgage lender and/or the Government.



Would I qualify?

Each scheme has its own eligibility criteria, but you may qualify if you are

A tenant of a council or housing association

On the housing register, waiting for a council or housing association home

A key worker, such as a nurse, teacher or police officer

A first-time buyer who can't afford to buy a property

Read on to find out more

Social HomeBuy

New Build 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 Mortgage Type
 

Read on about Mortgages for First time Buyers

Read On / Mortgage Guide



Read On

To check the Best Buy Tables for todays best value First Time Buyer's mortgages Click here




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





Important note about your credit rating

Many websites don't make it clear that filling in their mortgage enquiry form means you might be credit checked.

This can put you at risk.

UK Mortgage lenders may assume an enquiry you have aleady made to another lender means you were turned down - and not that you are in fact carefully shopping around and rejecting the bad deals.

The best way around this significant problem is to ask an independent mortgage adviser to make anonymous enquiries for you.

Without risking your credit score an adviser can find you the best available mortgage deal. They will also know how likely you are to be accepted by the lender if you decide to make a formal application.

If you would like a recommended adviser to check out the best deals for you, anonymously, simply fill in the quick form below.

" Hmm..." You might think; "Won't I be hounded by a salesman hungry for my business? "

This is the most common question we hear from our users.

The answer is no you won't.

Firstly your enquiry is only passed to ONE person on a carefully vetted list of independent advisers.

Secondly, these mortgage advisers are professionals. Even when the market is slow they are busy people. There many people who need to move homes, or get a remortgage and are looking for advice all the time. Regardless of the state of the property market, life goes on.

So the advisers don't have time to hassle people. It just doesn't work like that. No one is gong to be forced into taking out a mortgage unless they really need one.

The advisers are very used to talking with people, perhaps like yourself, who are only "dipping their toes" into the water.

Many people just want an initial quick chat and if they feel comfortable will ask the advisor to contact them again later - often in several weeks or months. As a professional, the adviser will simply diarise this and call back at the appropriate time. There is no obligation at all.

(In the unlikely event that you ever feel at all "hassled" by someone on our list please let us know immediately. We have never heard of this. But if it happened we would definitely want to know).



"Thank you... the form was very quick. After many long phone calls to various lenders - where I'd go over the same details again and again - I was amazed at how easy you made it. You've saved me £1000's.... "
Peter B, Leeds


Value of Property £
 (eg 159000)
Borrow How Much? £
 (eg 125000)
Your Mortgage Type
Do you want to Self Certify?
(Self certified means unable to easily provide proof of income, e.g. if you are self-employed etc.)
Have you:



First name:
Surname:
Date of birth:
Please enter your current postcode:
Address:
(click drop-down arrow for correct address)
OR click here to enter address manually
Email address:
Daytime phone number:
Evening phone number:
Please use this space to tell us the best time to call you and any other info you may wish to add:

Back to A to Z Mortgages UK List

Read more about Types of Mortgages

See contents of Full Mortgages Guide

See contents of Home Buyers Guide

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

The two major varieties:

Repayment mortgages

Interest only mortgages

Then mix in the various:

Interest repayment arrangements

Finally, to cover all the different types there's a

Complete A-Z of mortgages

Complete A-Z

Can't Find It Here?

Enter what you are looking for in the box below


The step by step guide on how to get a mortgage with special tips

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