NewBuild HomeBuy

• On the New Build HomeBuy scheme you can buy a share in a newly-built property (between 25% and 75%) while the housing association retains the rest and acts as your "landlord"
• You then pay "rent" to the housing association based on the size of the share they retain
• Typically this rent is 2.7% in the first year, with any rises capped at RPI plus 0.5% of the present figure every year thereafter
• There may a service charge to pay too, as NewBuild HomeBuy properties are usually in blocks of flats where there are communal areas to maintain
• You can "staircase" upwards or downwards by buying or selling further shares in your home
• You can also buy NewBuild HomeBuy properties on "resale" terms - where the housing association organises for the current occupant to sell his/her share to another buyer (check out www.yourhomefinder.co.uk for a list of resales properties)
• In a variation called Rent to HomeBuy you can rent a NewBuild HomeBuy property at a subsidised rate for a limited period of time while saving enough money for a deposit on a mortgage. (Most lenders are currently demanding around 20% deposits) 
• For more details about the NewBuild HomeBuy scheme see Your Own Brent Home
• To browse the schemes available in Brent, check out our showcase
• See also Have you heard about NewBuild HomeBuy? (.pdf, 129Kb)
• For further enquiries and applications visit the Housing Options website