HomeBuy scheme

ROTHER residents can buy affordable homes with the HomeBuy scheme from Moat, Rother council said this week.
By The Newsroom
Published 24th May 2006, 11:43 BST
Updated 7th Jun 2018, 20:07 BST

HomeBuy is a programme which helps people who wish to buy a property but cannot afford to, and those who wish to rent but cannot afford to pay market rents.

Most of the people eligible are either public sector key workers, or people in other priority groups, for example council or housing association tenants.

Hide Ad
Hide Ad

Most people who apply for HomeBuy are first-time buyers, but the programme can also help in situations where a household has outgrown existing arrangements or where it is necessary to buy a property because of a relationship breakdown.

The council said: "Rother is pleased to be working in partnership with Moat, a leading housing association, to offer HomeBuy to people in our local authority area.

"Moat is the government's appointed HomeBuy Agent in Kent, Sussex and Essex. Anyone interested in applying for HomeBuy should contact Moat by visiting www.homebuy.co.uk or calling 07002 662846.

"This website provides comprehensive information about HomeBuy and offers the facility to apply online. Moat works with other housing associations to match applications to the best available housing solution.

Hide Ad
Hide Ad

"HomeBuy leaflets and application forms are also available from Rother DC offices.

"Open Market HomeBuy offers an equity loan so that you purchase approximately 75% of the equity in a property of your choice from the open market, subject to criteria. The remaining 25% is funded through the equity loan with no interest to pay on that loan. The loan is repayable at market value when the property is eventually resold. Open Market HomeBuy is mainly for key workers.

"New Build HomeBuy offers new homes on a part buy/part rent basis where you purchase a share in the property, typically 50%, and pay a discounted rent to the housing association on the remaining share.

"Rother DC works with a number of housing associations to develop new affordable homes across the district.

Hide Ad
Hide Ad

"New Build discounted rent - new homes available at approximately 80% of market rents for homes of similar size and specification in the surrounding areas. These are available only to key workers.

"Resales - where existing shared owners wish to sell their properties, they are marketed and sold to people who have applied to Moat.

"Homes for 100% sale at market prices to suit first time buyers and others."