The way you access a Help to Buy agent is changing
From 2 January 2020, you will be able to apply for help to buy schemes from one of three agents across England. This means our current Help to Buy agents’ services will shortly be replaced.
The changes should not affect your house purchase.
If you are buying a new home using a Help to Buy: Equity Loan, we will automatically transfer everything to your new agent, so that they can continue to support your equity loan application and house purchase.
If you have any questions, please get in touch.
What is a Shared Ownership Resale?
Resales are properties that have already been bought through Shared Ownership in the past, which the owners are now looking to sell and move on.
How does it work?
You will only be able to purchase the same or larger share in the home as the existing owner, which can vary between 25% and 75% of the property's market value. Then, just like Shared Ownership, you pay a reduced rent on the remaining share.
You may need to raise a mortgage for the percentage of the property you want to buy. If you have a large deposit or equity from the sale of a property, this can also be used towards the cost of purchasing your share.
What homes are available?
Resale homes vary greatly in terms of age, size and type. We ask all housing associations to list their resale properties on our website. You can search for a home in the area you wish to live on our property search page.
What are my options after buying a Resale home?
You can buy additional shares in the home - called 'Staircasing' - at a later date until you own 100%* of the property. If you increase your share in the property, your rent is re-calculated and reduced proportionately.
If you have more questions please see our Frequently Asked Questions or contact us for more details.
*Please note that on some developments there is a limit on Staircasing, which means you cannot buy 100%. Check with the developer if you are unsure.
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