New Build HomeBuy
This scheme is sometimes called ‘part buy - part rent’ or ‘shared ownership.’ You can buy a share in a brand new or refurbished home. You pay a mortgage on the part you own and a subsidised rent on the part you don’t own. As your income rises you can increase the share you own, until you eventually own 100% and no longer pay any rent to the housing association.
Social HomeBuy is where council or housing association tenants buy their council or housing association home on a part buy part rent basis benefiting from a discount on the initial purchase price.
Open Market HomeBuy
This scheme allows eligible applicants to buy a home of their own on the open market, with the help of a government equity loan to cover a percentage of the purchase price.
First Time Buyers Initiative
Through this scheme you can buy an equity stake in a brand new apartment. You don’t pay any rent on the remaining equity for the first three years.
London Wide Initiative
This is a scheme across 15 sites in London and is for keyworkers only. It is a shared equity scheme where the government retains a percentage stake of the home purchased. You will not make any monthly payments on the government’s equity unless you sell the home.
UptoYou is an exciting new opportunity to rent or buy your home, as and when you want. If you can’t afford to buy now, you can rent on an assured short hold tenancy at a subsidised rent. You can rent for as long as you want or after six months you can choose to buy a share of your home, receive 5% of the equity free and continue renting the remainder from L&Q.
Rent to HomeBuy
Rent to HomeBuy enables you to rent a new build home at a discounted price, of a minimum of a 20% discount, on an Assured Shorthold Tenancy, of up to 5 years.]
When you are ready you can buy on new Build HomeBuy terms.
HomeBuy Direct helps first time buyers to buy a home directly from a property developer with the help of an equity loan of up to 30% of the property market value.
There is no interest to be paid on the loan for the first 5 years.
Home Ownership for people with long-term disabilities
HOLD helps people with long-term disabilities to buy a home on a part buy, part rent basis.
You will own part of the home and will rent the other part from the housing association, your mortgage will be funded by the benefits system. We can provide you with details on how to gain specialist financial advice.
There are often various resale opportunities available in the Borough, where shared owners want to sell their share of a property. To connect to housing associations that may have some resale opportunities in the Borough, please click links on the right.
This scheme enables anyone living or working in the borough on a moderate income to rent a brand new or refurbished apartment at a subsidised rent, which is usually 25 to 30% below market rents.