For Sale 1 bedroom flat
Property value £115,000
Share percent 30%
Share percent price £34,500
FAQs
- What is a HomeBuy Agent?
- What properties are available?
- Can I choose a home on the Open Market?
- Can I afford it?
- Do you have to be a keyworker?
- Can I buy additional shares?
- What happens if I want to sell my HomeBuy home?
Q: What is a HomeBuy Agent?
A: HomeBuy Agents are registered social landlords appointed by the Government's Housing Corporation as a one stop shop and point of contact for people looking for an affordable home to buy in their area.
Q: What properties are available?
A: If you know of a scheme or development that you are interested in, let Homesinhants know. We send your application details to other housing associations who may also send you property information. Otherwise you can browse what's available on our property search.
Q: Can I choose a home on the Open Market?
A: Yes, you could choose a second hand home through an estate agent but you need to be able to afford at least 50% of the purchase price yourself. This scheme is called Open Market HomeBuy. You could also buy a brand new home from a developer with the help of this scheme, but you cannot combine this help to buy a housing association home.
Q: Can I afford it?
A: Buying a property is expensive and you'll need about £2,500 in savings to pay for costs of the purchase (more if you are buying a house). To proceed with your application, you will need to have access to at least that without the need to borrow extra money on your mortgage or to take out a personal loan.
If you think you can afford a mortgage you should ask the advice of an independent mortgage advisor. Our specialist advisors can give you advice about mortgages and more information about the sort of schemes that might suit you best.
Click here to access the Mortgage Calculator
Q: Do you have to be a keyworker?
A: No. There are only a few scheme that are especially for keyworkers. Most of our schemes are designed to help anyone who can't afford to buy the home they need.
Q: Can I buy additional shares?
A: If you buy a New Build HomeBuy property you can increase your ownership at a later stage and own the property outright if you wish to. This is called staircasing and many people who buy affordable homes staircase to become full owners.
Q: What happens if I want to sell my HomeBuy home?
A: You can get advice about selling and re-purchasing a property from the housing association that dealt with the original purchase or by contacting Homesinhants for advice.
If we haven't answered all your questions, mail them to us at homesinhants@swayhs.org.uk.
