New Build HomeBuy
New Build HomeBuy is the new name for Shared Ownership.
Newbuild HomeBuy homes offer a low cost way to get on the home ownership ladder.
Did you know?
- Newbuild HomeBuy makes home ownership more affordable because you can part buy and part rent your home
- Newbuild Homebuy schemes are managed locally by Housing Associations. Why not view our properties page to find a home where you wish to live? Click here to view our properties.
- HomeBuy is the Government's range of low cost housing schemes
- You can view a map of the area we cover click here.
What is New Build HomeBuy (shared ownership)?
Newbuild HomeBuy is a great way into home ownership. If you can't afford to buy outright, you can part buy and part rent your home.
You might buy a 25%, 50% or 75% share in your home. You pay a small rent on the share that you don't buy. The bigger the share that you purchase, the less rent you have to pay. The monthly cost of buying a 50% share is about two-thirds of what you would pay on a mortgage if you bought the property outright. When you can afford to do so, you can buy more shares until you own your home outright.
Who can buy Newbuild HomeBuy housing?
Newbuild HomeBuy housing schemes are usually intended for people who cannot afford to buy a suitable home in any other way. Applicants must usually be in housing need and be unable to afford outright purchase.
Also remember that you don't have to find a new housing development to be able to buy a Newbuild HomeBuy property. When shared owners want to move home, their property will either be offered to the housing association to find a buyer, or will be advertised in the local estate agents.
Who does the repairs on Newbuild HomeBuy properties?
The lease between you and the housing association will set out your rights and responsibilities as a shared owner. Although you have not bought the property outright, you will have the normal rights and responsibilities of a full owner-occupier. In particular, you will normally be fully responsible for the cost of repair and maintenance to your home.
How can I get a mortgage to buy my shared ownership home?
You can contact one of our list of accredited financial advisors for a free quotation. Click here for their contact details.
Your questions answered
Click on the link below to find out more information about Newbuild HomeBuy.
How to apply?
If you are interested in buying low cost affordable shared-ownership housing, you will need to apply with us.
Click Apply Now.
