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MyChoice HomeBuy – Buying on the Open Market

This scheme offers financial assistance in the form of a low cost ‘Home Purchase Loan’ which can be used in conjunction with your maximum mortgage capability and any deposit you may have to help you purchase your desired property.

The scheme allows you find the property on the ‘Open Market’ i.e. you are not required to only consider properties in particular new build developments.

The level of support offered through this product will vary depending on your personal circumstances. However, if you fall within the specified eligibility criteria and have a household income of between £20,000 and £60,000 per annum you may be able to receive funds of between 15% and 50% of the total purchase price of the property that you are considering.

The level of assistance you receive may be affected by the size of your deposit.
The funds received through ‘My Choice HomeBuy’ have a charge of only 1.75% per annum*. There is no additional loan repayment requirement for as long as you are resident in the property*.

MyChoice HomeBuy Funds are allocated on a first come first serve basis.