Shared Ownership & Homebuy schemes
Are you in housing need? Would you like to get on the property ladder but cannot afford to purchase your own property on the open market?
Shared Ownership and Homebuy are two types of Low Cost Home Ownership schemes run by Housing Associations which could assist you to make that first step.
Called Shared Ownership or New Build Homebuy depending on the provider, these are available on new purpose built properties. A share in the property is purchased by you, using a mortgage if required. A monthly rent is payable to a housing association for the rest. You may have the option to increase your share of the property in time.
Another type of scheme is called Open Market Homebuy, and is available on properties to buy on the open market. In this scheme 75% of the property is purchased by you, and a loan is made to you for the rest of the value. No rent is payable on the loan, which remains at 25% of the property value, and is repayable when the house is sold.
The number of properties available for these schemes is limited, and there are usually more applicants than properties. Prices vary, but recently have been around £100,000 for a 2 bed flat, rising to £140,000 for a 3 bed house.
If you would like more information about any of these schemes, please visit the Orbit Homebuy website by clicking the link. You can also download our leaflet below.
Downloads
You will need the Adobe Reader software to view these documents, it is available by clicking this link that will open in a new browser window - you can close that window after the download and our website will still be available for you to browse.
Shared Ownership (PDF Document, 563Kb)
back to top
| 
