New Build HomeBuy - Part-buy/Part-rent

New Build HomeBuy is a part-buy/part-rent scheme, where you buy a share of a newly-built home from a housing association or other housing provider.

The minimum share you can usually purchase is 25 percent of the value with a maximum of 75 percent within this first year. A higher percentage may apply on some specified developments.

The housing association or other housing provider will hold the remainder of the equity, with a subsidised rent is payable on the share you do not own.

The combined monthly costs of the rent and the mortgage will normally be noticeably less than would be experienced if buying the property outright.

Once a ‘shared owner’ you can then purchase further shares in your home if and when you can afford to do so, known as “staircasing”, until you own the property outright.