Low cost home ownership

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Low cost home ownership

There are various affordable home ownership initiatives available to residents of Brighton & Hove, although all schemes are subject to funding and eligibility.

HomeBuy helps people to get their first foot on the property ladder. HomeBuy also helps those people who wish to rent but cannot afford to pay market rents.

If you are interested and wish to apply you should contact Moat, the 'Local HomeBuy Agent' for Essex, Kent and Sussex. Information is available at www.HomeBuy.co.uk. Local HomeBuy agents work with councils and housing associations to provide HomeBuy options to people in housing need.

Moat will assess your application and advise you of all the HomeBuy options for which you may be eligible.

Buying a home

HomeBuy helps people, usually first time buyers, who cannot afford to buy a property that suits their household needs on the open market.

All first time buyers may apply. Social tenants and serving MoD personnel who wish to buy a property through HomeBuy are given top priority.

HomeBuy can also help you if you have previously owned a property but are now unable to buy without assistance, for example in the case of a relationship breakdown, or if you are over-crowded in your current home.

The maximum income allowed is £60,000 per annum (single or joint). You will need to have access to (or savings) of £5,000 to cover the initial costs of buying a home.

Renting a home

Eligibility for renting a home through HomeBuy can vary between different schemes. For example, under Rent to HomeBuy you will be assessed in the same way as if you were buying a share in the property (but with no requirement for savings). For discounted rent, you will need to demonstrate that you can afford to pay the monthly rent and service charge payments.

General

Some homes can only be provided to people with a local connection (live, work or family connection) to the local authority area in which the property is located.

Although most homes through HomeBuy are available to all first time buyers, some can only be allocated to qualifying key workers.

Social HomeBuy is only available to existing council and housing association tenants.

HomeBuy options

• New Build HomeBuy
• HomeBuy Direct  
• Rent to HomeBuy
• Intermediate Market Rent
• HOLD
• Social HomeBuy
• Shared ownership resales
• Armed Forces Home Ownership

The Moat home ownership enquiry line is 0845 359 6161 (8.30am to 5.30pm Monday to Friday).