New Build HomeBuy is also known as Shared Ownership, part buy/part rent or shared equity.
Under this scheme new flats and houses – built by private developers – are sold to homeowners as leasehold properties on shared-ownership terms.
Buyers can purchase a share of their home, at a minimum of 25%. Rent is payable on the share you don’t own and is calculated to be ‘affordable’.
You may buy additional shares when you’re able, known as ‘staircasing’, until you own the property outright.
If the property is sold, you would benefit from any equity based on your share.
Am I eligible?
New Build HomeBuy applies to all key workers, existing social housing tenants and those in priority housing need.
For more information contact your HomeBuy Agent.
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