Family Housing works in partnership with Orbit HomeBuy Agents to help you buy a property.
If you have a household income of less than £60,000 per annum, you could be eligible for HomeBuy. Priority is given to social tenants, key workers and first time buyers.
To find out more please contact us. If you think you are eligible and would like to apply please download an application form.
Legal and Financial advice
We advise you to get independent financial advice before arranging a mortgage. If you are buying a new home, you will need a solicitor to carry out the legal work involved and you will have to pay for this service. Solicitors fees will vary and some may be more experienced in dealing with HomeBuy purchases than others
Costs involved in buying a home
As a general rule, you will need around £1,500 to cover the one-off costs involved in buying your new home. This does not include any mortgage deposits required. This means in order to proceed with your application, you will need to have £1,500 either from your own savings or from family and/or friends, without the need to borrow additional money on your mortgage or take out personal loan.
New Build HomeBuy /Shared Ownership
New Build HomeBuy is a fantastic opportunity to buy a share in a brand new leasehold property (either a house or an apartment) on a part buy/part rent basis and pay a subsidised rent on the part that you do not own.
You can buy an initial share of between 25% and 75% of the property and pay rent on the remaining share. The bigger the share you buy, the less rent you have to pay. You will need to be able to raise a mortgage for the share you want to purchase unless you have sufficient money of your own.
In most cases, as you become able to afford it, you can buy additional shares until you own the property outright. This is known as ‘staircasing’.
From time to time, properties originally sold under New Build HomeBuy become available for resale. If you have expressed an interest in New Build HomeBuy, we will send you details of Resale properties that match your housing needs.
For full details and advice on HomeBuy, please call us on 0121 766 1100.