Mortgage Information - Shared Ownership
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Homebuy
The Homebuy scheme enables you to purchase a property anywhere in England. The overall amount that you can afford will be calculated by the Housing Association and they will set you an upper limit purchase price.
You will receive a grant of 25% towards the purchase price, the remaining 75% will be met by you via a mortgage or savings plus mortgage.
There are no monthly payments on the 25% grant as it is interest free, you will, however, have to repay the grant when the property is sold. Having retained a 25% interest in the property, the Housing Association will take 25% of the sale price once the property has been sold. This scheme is sometimes known as an equity loan.
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