Homebuy

Homebuy is a government-backed scheme for people who cannot afford to buy a home outright.

There are three new Homebuy products designed to replace all other Low Cost Home Ownerhsip options from April 2006.

New Build Homebuy

Akin to traditional Shared Ownership where newly built homes are purchased via Housing Associations on a buy/rent basis.

Open Market Homebuy

Where homes can be bought on the open market, utilising the purchasers savings and/or mortgage capability topped up by an equity loan.

Social Homebuy

Where existing social housing tenants can buy their current homes on a part buy/part rent basis, receiving a discount on their intial capital.

Further information that may help you: Affordable Homes Strong Communities or www.home2own.uk.com

If you need further advice please contact:

The Hop Warehouse
35 Southfield Street
Worcester
WR1 1NJ
Telephone 0845 6585 420
email home2own@wmhousing.co.uk