Affordable home ownership
New Build HomeBuy (formerly known as shared ownership)
We help first-time buyers to get onto the property ladder. Our New Build HomeBuy scheme is an affordable part-buy, part-rent scheme that allows people who would otherwise not be able to afford it, to purchase their own home.
Successful applicants can buy between 25% and 75% of the market value of their new home and pay a discounted rent on the remainder. This is usually cheaper than private sector renting or buying outright, providing the security of home ownership without the expense.
The homes we provide under New Build HomeBuy are good quality, newly built or refurbished properties. Priority to buy a New Build HomeBuy home normally goes to:
- local council residents
- housing association residents and local key workers
- local housing waiting list applicants
- other first-time buyers who live/ work or have a connection to the area.
For more information on New Build HomeBuy, visit the MHO website or contact our applications and enquiries team on 020 8920 7777.
Housing Options
In London we are working with eight local authorities and other housing associations to provide a single point of contact for those looking to buy or rent.
Rather than registering with a number of different housing associations in your area, with Housing Options you fill in just one application form to gain access to information about homes to buy or rent across the east, north and south east of London. You can do this from the Housing Options website or by calling 0845 230 8099.
Homebuy
MHO, a part of the Metropolitan Housing Partnership has been appointed the Homebuy Agent for East, North and West London. It means that customers can:
- buy the home of their choice - old or new - with the freedom of locating anywhere in England
- pay 75% of the market value and receive a loan for the remaining 25%
- pay back 25% of the property value if and when they decide to sell.
Through the Key Worker Living Homebuy scheme, applicants can get an equity loan of up to £50,000 to help them buy a home of their own. There is nothing to pay on this loan until they decide to sell.
For more information visit the MHO website or contact us on 020 8920 7777.