Affordable home ownership schemes
There are a number of schemes available in the Harlow area to help people buy or part buy a home they can afford and is an excellent way to source affordable housing. You can buy a home through one of the home ownership schemes available or rent a home at less than the market rent and save for a mortgage deposit to purchase a home later.
The following schemes are available within Help to Buy, for more details visit the www.helptobuy.net website
To be able to rent or buy through Help to Buy (not including the equity loan scheme) you will need to apply on the Help to Buy website to ensure that you are eligible to do so.
Help to Buy options are:
- Rent to Buy
Rent a new build home in Essex, Kent or Sussex from a housing association for an agreed period at around 20% less than you would pay for a similar private rented home in the area. The aim of the scheme is to provide an opportunity for people to save for a deposit towards buying a share in the home in the future.
- Discounted Rent (also known as Intermediate Rent)
Rent a new build home in Essex, Kent or Sussex from a housing association for an initial 6 month period at around 20% less than you would pay for a similar private rented home in the area.
- Help to Buy shared ownership – new build homes
Buy a brand new home in Essex, Kent or Sussex on a part buy/part rent basis.
- Help to Buy shared ownership – resales (existing homes)
If you’d rather buy a secondhand property in Essex, Kent and Sussex, a shared ownership resale by a housing association could be the right option for you.
- Help to Buy - equity loans
Gives first time buyers the opportunity to purchase a new build home with the help of an equity loan guaranteed by the government.
- HOLD (home ownership for people with long-term disabilities)
Aims to give people with long-term disabilities the chance to own a shared ownership home and live independently.
- OPSO (Older People’s Shared Ownership)
Some shared ownership schemes are aimed specifically at buyers aged 55 or over.