Affordable Home Ownership
On 1st April 2008 changes were made to the Homebuy scheme which was operated by Moat in this part of the Country. Since 1st April two separate schemes are being operated to help households who cannot afford outright ownership to access home ownership via shared ownership. These schemes enable households to purchase a property which is for sale on the open market.
Moat's My Choice Homebuy
MyChoiceHomeBuy is a government funded shared equity product. Its aim is to help social tenants, key workers and first time buyers who cannot afford to buy a suitable home in the area where they live or work. The product can help people who earn between £20,000-60,000 p.a. to buy their own home on the open market.
For more information please visit the My Choice Homebuy Moat webpage.
Am I a key worker - to find out whether you meet the current classification of key workers visit Key Worker Homes page on Moat's website.
Places for People's - Ownhome product
This is a shared equity product offered by Places for People with The Co-operative Bank. Places for People could provide you with a shared equity loan of between 20% and 40% towards the purchase of a property on the open market to be used in conjunction with a mortgage from the Co-operative Bank in the first instance.
There are no interest payments for the first five years. After five years you would be charged a fixed rate of 1.75% interest on your Ownhome shared equity loan each year. After a further five years this would increase to a fixed rate of 3.75%.
For more information please visit the Ownhome website.
Additionally households may access homeownership via properties that have been built or purchased for the purposes of enabling shared ownership. This is achieved in two ways:
Shared Ownership
Moat Housing owns a part share in a number of properties within Wealden. Occasionally these properties are sold and are advertised via Moat. If you are interested in purchasing one of these properties please contact Moat direct on 0845 6001006.
New Build Homebuy
Some social landlords build new homes in the District which are available on a shared ownership basis. This where an applicant purchases a share of a property between 25% and 75% with a subsidised rent being payable on the remaining share. These homes are advertised and marketed by Moat and details of current homes available can be viewed on the Homebuy website.