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Help to Buy - Affordable Home Ownership in Rother

Residents in the Rother District may be eligible to buy affordable homes with the Government backed Help to Buy scheme.

Help to Buy logo
Help to Buy

What is Help to Buy?

The Government created a range of Help to Buy products to assist those who otherwise wouldn't be able to get a foot on or up the housing ladder.

Whether you are looking to get onto the housing ladder or move up it, there are a number of Help to Buy products designed to make buying a home more affordable, including:

 

Shared ownership - New build and Re-sales

Shared Ownership is designed for those who cannot afford to purchase a property on the open market. This scheme allows you to purchase a percentage share of a property whilst renting the remaining share from the housing association selling the property. You can then choose to purchase further shares to increase your ownership of the property.

This scheme can be available on New Build and also second hand properties, which are referred to as re-sale shared ownership. These are homes previously purchased through the scheme and now looking to be sold.

Equity loans

The Help to Buy equity loan is designed to help you purchase specific new-build properties priced up to£600,000 from participating registered developers with as little as a 5% deposit.

The Government lends you up to 20% of the cost of your new-build home, so you'll only need to provide a5% cash deposit and a 75% mortgage to make up the rest. You also won't be charged loan fees on the20% loan for the first five years of owning your home

Self-build and custom-build housing

If you are interested in building your own home in Rother, you are encouraged to enter your details on the 'Rother Self-build and Custom Housebuilding Register'. Further details are available here: Self-build and custom-build housing webpage

Want to find out more?

For more information contact Help to Buy East and South East by visiting www.helptobuyese.org.uk or call 03333 214044.

If you interested in buying in another area please visit www.helptobuy.org.uk to find details of the local Help to Buy agent for that region.

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Useful information

Buying your home can be an exciting time. It can also be a daunting process during which you will need expert help and advice.

There are a number of organisations who provide free and impartial advice and can help point you in the right direction. Below you will find information about where to get the advice you'll need.

Finance matters

The Money Advice Service is an independent organisation set up by Government. They have a range of free and unbiased tools and advice for first time buyers, including how much you can afford to borrow, taking out a mortgage, and a money timeline.

Tel: 0300 500 5000
Money Advice Service

Finding a mortgage

Building Societies Association is a trade association, representing mutual lenders and deposit takers in the UK including all 47 UK building societies.

Tel: 020 7520 5900
Building Societies Association

Buying a leasehold property

The Leasehold Advisory Service (LEASE) is funded by Government to provide free advice on the law affecting residential leasehold property.

Tel: 0207 832 2500
Leasehold Advisory Service

Stamp duty

For information on Stamp Duty and the latest rates look at: Stamp Duty Land Tax Rates

Arranging a survey

Visit the Royal Institution of Chartered Surveyors (RICS) website:

To find a surveyor in your area visit www.ricsfirms.com
For guides visit www.rics.org/usefulguides

Legal matters

For your local Citizens Advice Bureau visit www.citizensadvice.org.uk

For help in finding a solicitor, contact The Law Society

Tel: 020 7320 5650
www.lawsociety.org.uk/findasolicitor

Finding a home that qualifies for a Help to Buy scheme

There are a number of property finding websites that advertise homes for sale that can be bought with Help to Buy schemes.

These are just some of the property finding websites online that cover England:

  • Rightmove - Help to Buy (includes information and tools such as a Help to Buy equity loan mortgage calculator that lets users calculate how much a property within the scheme will cost them)
  • Prime Location
  • Zoopla
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