Homebuy
From Wikipedia, the free encyclopedia
Homebuy is a range of low cost home ownership options funded by the government in England to help enable eligible first time buyers and Key Workers buy a home that they would not otherwise be able to afford.
Introduced in April 2006, Homebuy is part of the Government's target to assist 100,000 housesholds into home ownership by 2010.[1]
There are three types of Homebuy:
- New Build HomeBuy, where you share ownership of your home with a housing association;
- Open Market HomeBuy, where you part-buy a property and get a loan from the Government for the rest; and
- Social HomeBuy, where housing association and local authority tenants are helped to buy their current home.
The Government has also introduced the First Time Buyers Initiative as part of the HomeBuy scheme.
To apply for Homebuy, applicants must contact their local Homebuy Agent. [2]
