Help to Buy Agent

BPHA is our local HomeBuy Agent and they provide a “one stop shop” for people who are interested in shared ownership and other Help to Buy schemes.

Visit their website to register with them and see current information about Help to Buy properties available in the area.

Shared ownership

Shared ownership is a part-buy, part-rent scheme that allows you to buy a share of your home and pay a reduced rent for the remaining part. Some new shared ownership homes are available as they are built by housing associations and some become available when occupants want to sell their share and move on.

Most housing associations offer shares between 25% and 75% of the property, depending on how much the buyer can afford. The rent on the remaining share goes down as the percentage bought goes up. The buyer usually needs to be able to raise a mortgage to buy a shared ownership home.

The shared ownership scheme can be a great start for people who cannot afford to buy a home on the open market. They usually have the option of buying more shares until they own their home outright.

Home Ownership for People with Long Term Disabilities (HOLD)

HOLD offers a route into shared ownership for people with long-term disabilities.

Older People's Shared Ownership (OPSO)

This scheme gives retired people lower living costs than if they owned a home on the open market. It is only available to people over 55.

Other ownership schemes

Help to Buy - mortgage guarantees

This is a great option if you can afford to repay a mortgage but don’t have a large deposit.

Help to Buy – equity loans

Under this scheme the government lends you up to 20% of the cost of your new-build home so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

Affordable Rent to Buy

This scheme is available to help people who don’t have enough money saved for a deposit.

Developer equity loans

Developers sometimes offer opportunities for applicants to buy a defined percentage of a property and pay back the remaining percentage upon sale.

Right to Buy

This scheme allows some housing association tenants to buy their home on a shared ownership basis or outright with the benefit of a discount. The smallest share is 25%, the largest is 100%.