New Build HomeBuy (often called Shared Ownership)

This well-established scheme allows purchasers to buy a share (usually 25%, 50% or 75%) in a newly built property, developed and owned by a Housing Association.  Rent is payable on the remaining share, which continues to be owned by the Housing Association.  Purchasers have the option to buy further shares and progress to outright ownership.

 

New Build Homebuy is the Government’s new name for shared ownership.  This new scheme incorporates some small differences designed to give households access to a wider range of mortgage products than were accessible under traditional shared ownership.   Properties are still sold on a shared ownership basis, with a minimum initial share of 25% and a maximum of 75% (the initial share available on a particular scheme is set by the landlord). 

 

Households applying for New Build Homebuy will need to arrange a mortgage for the share to be purchased, and an affordable rent will be payable on the remaining, Housing Association-owned share.

 

New Build HomeBuy schemes are funded by the Housing Corporation and built by Housing Associations. For further information on New Build HomeBuy please follow the external link to Department of Communities and Local Government 

  

For more information about eligibility and availability for all HomeBuy schemes in the region, visit the my4walls website.

 

To browse all the affordable housing for sale in Sheffield, go to Affordable Properties for sale Now & in the Future