Help to buy and home ownership
There are different schemes available to help people to become homeowners:
- Shared ownership - part buy, part rent your home. You may be eligible if you can't afford to buy a home without help and are a first time buyer with an income of less than £60,000 per year
- FirstBuy - a new equity scheme to help first time buyers purchase a new home on selected developments throughout the East Midlands. You buy a minimum of 80% and the remaining share is provided as an equity loan
- HomeBuy Direct - buy part of your home (not necessarily 80%) and use an equity loan for the rest.
- Armed Forces Home Ownership Scheme - you may be eligible if you can't afford to buy a home without help and are a serving member of the British Armed Forces and have 4 to 6 years service
- Rent to Buy - pay reduced rent on a home so that you can save for a deposit to purchase in the future.
- Discount for Sale - you may be eligible if you can't afford to buy a home without help and live or work in the immediate area with an income of less than £60,000 per year.
Help To Buy
In Nottinghamshire Help To Buy has been chosen by the government to provide schemes to help people become homeowners. This includes shared ownership, rent to buy, and equity loans. You can find all the information on eligibility and options as well as apply online on the Help To Buy website.