New Build Home Buy - Shared Ownership
New Build – HomeBuy – Shared Ownership
How New Build HomeBuy Works
New Build Homebuy, formerly known as Shared Ownership is a "part buy, part rent" scheme aimed at helping First Time buyers and other eligible buyers to purchase a home. You buy a share in a home, say 50%, and you pay rent for the remaining share to Headrow Limited.
Who is it for?
New Build Homebuy is aimed at helping people who want to become homeowners but cannot afford to buy on the open market in their local community. It is obviously easier to obtain a mortgage on 50% of the value of the property than the full 100%.
Am I eligible?
Potential purchasers must complete an application form. In deciding whether you are eligible, Headrow will consider the following factors:
Are you a first time buyer?
Are you a local authority or housing association tenant or on a waiting list?
Are you existing housing circumstances unsuitable?
Have you recently moved to the area to take up employment?
Are you in the need of a new home following a relationship breakdown?
Are you able to afford the costs of a shared ownership home but unable to buy on the open market?
See Headrow's Access Policy