Harrogate Borough Council
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Homebuy could help ...
Do
you want to buy your own home but can't quite afford it?
For further information, contact:
Joseph Rowntree Housing Trust,
Leasehold & Lettings Team,
The Garth,
White Rose Avenue,
New Earswick,
York.
YO32 4TZ
Telephone 01904 735011 or 735012
New Build HomeBuy
What is New Build HomeBuy and how does it
work?
Homes are sold as leasehold properties on shared ownership
terms with the lease being retained by a housing association. The
properties can be apartments or houses.
The minimum share you can normally purchase is 25%, and 75% is
usually the maximum. You will need to be able to raise a mortgage
for the share you want to purchase, and you will pay a rent on the
share the housing association owns. Rents are calculated to be
affordable.
As the property becomes more affordable, you can buy
additional shares until you own 100%. This is known as
'staircasing'. When you want to sell the property you can sell the
share you own to another household nominated by the housing
association or you can staircase to 100% and sell it in the normal
fashion.
However, the housing association who owns the remaining share
may want to buy the property back from you to offer to other
households who need low cost home ownership. They will tell you if
they want to do this when you tell them that you want to sell. The
property is sold at market value and you will benefit from any
equity which has built up on the share that you own.
Who is eligible?
Existing social housing tenants or those on Harrogate Borough
Council's housing register and in housing need. Priority is
normally given to people with a local connection to the sub area in
which the home is situated. Please see details of individual
schemes for specific selection criteria.
How can I apply?
If you are not on Harrogate Borough Council's housing
register, you will need to complete a housing application form. You will also
need to apply to Joseph Rowntree Housing Trust, as the HomeBuy
Agent for North Yorkshire, on free phone: 0800 6335670 or visit
their website: