Affordable Home Ownership

Do you want to buy a home of your own but think that you can't afford it? There may be a HomeBuy option or ‘YourChoice’ equity loan available for you.

What is HomeBuy?
HomeBuy is a Government programme that helps eligible individuals and families to get onto the property ladder by offering assistance in a number of different ways including part buy part rent 'shared ownership' and open market equity loan schemes.

For many people, this programme will provide the best chance of owning a home in the area in which they want to live and work.

South Bucks also has a new and unique partnership with Catalyst Housing Group to deliver an Open Market Home Purchase Equity Loan scheme called ‘YourChoice’ providing up to £100,000 to help make your aspiration of homeownership a reality. Funds are limited and conditions apply so if you think you could be interested please do not delay…

I want to buy in South Bucks - do I qualify?
In order to be given priority for any affordable home purchase opportunities in South Bucks District you usually need to be: -

• A first time buyer or someone whose circumstances have changed very significantly following divorce for example,
• And live or work within the South Bucks District Council area
• And registered on the Housing Register or an existing RSL / Housing Association tenant
• And earn less than £60,000pa and are unable to afford to purchase a suitable property outright.
• You will need to be able to obtain a mortgage and have sufficient savings to fund a deposit of usually at least 10% of the value of the share being offered as well as money available to pay purchase expenses for survey, solicitor and Stamp Duty etc.
• The ‘YourChoice’ scheme has some specific additional qualification requirements – please see the leaflet for full details

I meet these requirements what should I do now?
First — if you are not already on the South Bucks Housing Register you need to contact Housing Options team on 01895 877200 You can also register on line at www.buckshomechoice.gov.uk.

Second — you must also register Catalyst Housing Group. They manage the South Bucks HomeBuy applicant list ,promote the HomeBuy initiative and the brand new ‘YourChoice’ Equity Loan Home Purchase scheme as well as all other available options.

Telephone 0845 6017729 or complete an on line application. If you are interested in the Equity Loan scheme you will need to request a paper application www.catalysthomebuy.co.uk

What happens next?
Once you are fully registered applicants will normally receive marketing details of any suitable new affordable housing schemes that are being developed in the District as they become available.

If you are approved for the ‘YourChoice (pdf file)’ equity loan scheme Catalyst will contact you with full details and assist you through the next steps.

You will also receive details of re-sales of existing shared ownership properties as they become available and have access to any other HomeBuy options promoted by Catalyst and advertised through the HomeBuy website, subject to any eligibility criteria.

Where necessary for developments in high demand, the Council will nominate applicants in priority order so it is really important that you keep your Housing Register and Catalyst application up to date if your circumstances change for example if you have access to a larger deposit or your income changes.

There are several different HomeBuy products available from time to time and the details do change as new options are offered.

For more details of the different HomeBuy options and forthcoming HomeBuy Shows, including future proposals for South Bucks follow the links at the top of the page.

Copies of ‘Home Focus’ magazine published quarterly is available free from our reception at Capswood and is now available on line at www.homefocusmagazine.co.uk/home/.

The Home Focus magazine launched their website to raise the profile and awareness of Low Cost Home Ownership.It has useful information on various schemes, housing providers and directories to help point you in the right direction.