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Affordable Housing - Options for Buying
Affordable Home ownership
Nationally, a variety of government funded schemes exist to make home ownership more accessible, allowing people on modest incomes the chance to get a foot on the property ladder. Current schemes include:
- New Build Homebuy (often called Shared Ownership) – Purchaser buys a share in a newly built Housing Association developed and owned property and pays rent on the other share to the Housing Association.
- Social Homebuy - Grant assistance for social housing tenants (Council or Housing Association), to buy their current home outright or on a shared ownership basis.
- Open Market Homebuy – Purchaser is assisted to buy a property on the open market. Grant assistance is then repaid on the sale of the property.
- Right to Buy – Applies to eligible secure Council or Housing Association tenants, the right to buy the property they live in at a discount.
- Right to Acquire – Gives eligible Housing Association tenants the statutory right to purchase the property in which they live at a discount.
For further information on all the HomeBuy and other government supported home ownership schemes see Communities & Local Government website.
HomeBuy schemes in the South Yorkshire area are administered by the local HomeBuy agent, my4walls which has full details of all current schemes.
To view all affordable properties for sale in Sheffield please see Affordable Properties Available Now and Available in the Future pages.
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