Do you need help buying a new home?

The Government has introduced a new scheme called HomeBuy, which will help people get a foot on the property ladder. For many people, these schemes will provide the best chance of owning a home in the area in which they want to live and work.

The scheme is administered by HomeBuy agents who offer a one-stop-shop for all the HomeBuy products. They can offer information and advice on the products available to you and deal with the application process.

You can read the latest Homebuy newsletter for Shropshire and South Staffordshire here.

The HomeBuy scheme has a collection of products available, these include:

New Build HomeBuy (Part buy, Part rent)

Newbuild Homebuy (formerly known as Shared Ownership) is a Government funded scheme that makes home ownership available to first time buyers.

HomeBuy Direct

The HomeBuy Direct scheme provides equity loans to help first time buyers purchase selected new build properties. HomeBuy Direct participants are given help to purchase a new build home from one of our development partners.

The purchaser takes out a mortgage to cover at least 70% of the purchase price and this is then topped up with equity loans covering up to 30% of the price. The maximum value of homes purchased through HomeBuy Direct is £300,000.

The equity loans are co-funded by the Homes and Communities Agency and the development partner. The total amount that the purchaser pays back on the equity loan component corresponds to the property's market value at the time of repayment.

Social HomeBuy

Social HomeBuy allows social housing tenants to buy their current home either outright or on shared ownership terms with the benefit of a discount. To do so, their landlord must have decided to take part in the scheme.

How do I apply?

HomeBuy products are only available through HomeBuy agents and you should contact Orbit First Step directly for more information and to apply.

EXTERNAL LINK: Shared Ownership Home Buy Youtube Video

Orbit HomeBuy Agents

Telephone: 03458 502050

Website: www.orbithomebuyagents.co.uk

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