If you cannot afford to buy a home outright, you may be considering buying a property through the Government's affordable housing initiative: New Build HomeBuy. The basis of the scheme is that you buy a share of the property and pay rent on the remaining share that you do not own. Gradually you may buy further shares and eventually own your home outright. You can find more information about this scheme in our brief guide to New Build HomeBuy.
We are one of the few lenders that provide shared ownership mortgages to finance the purchase of the property share required under this scheme.
Whichever shared ownership mortgage plan you choose please make sure you read the relevant Keyfacts Mortgage Illustration before making your final decision. We will be happy to provide this upon request.
