HomeBuy Mortgages

The Homebuy Scheme allows social tenants, key workers and first time buyers to buy a share of a property and take their first step to getting onto the property ladder.

There are three HomeBuy mortgage products and they are based on shared equity and offering people choice in the home that they ultimately buy.

Social HomeBuy Mortgages

Social HomeBuy Mortgages are mortgages for tenants who do not have access to the 'Right to Buy' or 'Right to Acquire' schemes or cannot afford to buy a share in the home that they currently rent.

New Build HomeBuy Mortgages

This type of mortgage allows buyers to purchase an initial 25% of a newly built house. The housing provider can then manage a charge of 3% on their equity - although the average is more like 2.75%. Those who enter into the New Build HomeBuy scheme can purchase further shares in their home which is known as 'staircasing'.

Open Market HomeBuy Mortgages

The two main Open Market HomeBuy products are MyChoiceHomeBuy and Ownhome, which are both schemes appointed by providers of equity loans. These types of mortgages allow you to obtain a home available on the open market using the shared ownership scheme.