There are a range of schemes available to help people buy a home, or move up the property ladder.
Help to Buy: Equity loan
The Government lends first time buyers up to 20% of the cost of a new-build home. You need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home. The equity loan scheme is available for homes up to a maximum purchase price of £600,000. Find out more about Help to Buy
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build home within the Wealden District.
Shared ownership schemes (part buy/part rent) are provided through housing associations. You buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. You can buy bigger shares at a later stage when you can afford to. Some shared ownership properties cannot be purchased up to 100%, in rural areas for example.
You can buy a newly built home or an existing one through resale programmes from housing associations. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings.
To find out more about what options are currently available visit the Help to Buy website
Shared Ownership in Wealden
Housing associations alongside Wealden District Council are developing shared ownership homes in the District. To find out the most current information on the homes available please visit Rightmove and Zoopla and search for new home developments. Please then contact the developer selling the homes, they will be able to advise if there is shared ownership properties on the development. If there is, they should be able to pass on the correct contact details to you.
You can also search the share to Buy website for further information.