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HOMEBUY

HomeBuy helps people who wish to buy a property but cannot afford to, and those who

wish to rent but cannot afford to pay market rents. It is targeted at groups such as public

sector key workers or people in other priority groups, such as council or housing association

tenants or those identified by Regional Housing Boards as being in priority need.

HomeBuy helps people who wish to buy a property but cannot afford to, and those whowish to rent but cannot afford to pay market rents. It is targeted at groups such as publicsector key workers or people in other priority groups, such as council or housing associationtenants or those identified by Regional Housing Boards as being in priority need.

Eligible Armed Forces personnel are now able to apply for an extended range of affordable housing schemes across England under the Government’s Key Worker status. Those included in the scheme are all Regular Service personnel, the MPGS and some MOD civilians (MOD Police, Fire Service and some clinical staff).

Key Worker status was expanded on 28 December 2007 to cover all English regions and to give MOD personnel access to all of the options available under regionally run Key Worker Schemes.

There are now three affordable Housing Schemes and one Intermediate Rent Scheme. They are:

Shared equity arrangements under the New Build Homebuy
English Partnership’s First Time Buyers Initiative Open Market Homebuy using one of three

options to buy a property on the open market with the help of Government funding in addition to other lenders’ loans.

An intermediate rental scheme where the rent is set between social and full market rent

The schemes are run on behalf of the Government by ‘Homebuy Agents’, these are housing associations (otherwise known as Registered Social Landlords or RSLs) who run regional versions of a Key Worker Scheme in their areas of the country.

Government Defined Priorities For Assistance Under Homebuy Scheme

Social tenants
Those on the housing waiting list
Public sector key workers as defined under ‘Key Worker Living’ criterion in the South East
Other priority groups recommended by Regional Housing Boards
Regular service personnel (i.e. regular service personnel, including Military Provost Guard
Service, in the Navy, Army and Air Force)
Clinical staff (with the exception of doctors and dentists)
MoD Police Officers
Uniformed staff in the Defence Fire Service

Please note: MOD staff are eligible for New Build HomeBuy and Discounted Rent only.

In addition, the following group will qualify for intermediate rent schemes only:

Full Time Reserve Service (Full Commitment)

HOUSING ADVICE

ORGANISATION	Tel	URL
Joint Services Housing Advice Office	01722 456 575/94331 2575	www.mod.uk/jshao
The Foyer Federation	020 7430 2212	www.foyer.net
Home Base	020 8749 4885	www.cht.org.uk/theurapetic_projects.php
Royal British Legion Industries	01622 795 954	www.rbli.co.uk
Scottish Veterans Residences	0131 556 0091	www.svronline.org
Sir Oswald Stoll Foundation	0131 556 0091	www.oswaldstoll.org.uk
Spaces	01748 833 797/94731 2940	www.spaces.org.uk
Relate (UK)	0300 100 1234	www.relate.org.uk
Veterans Aid	0800 012 68 67	www.veterans-aid.net

Explanation:

The Key Worker Living Programme

(KWLP) was launched in 2004 to help

certain public sector employees to buy

a home, upgrade to a family home or

rent a home at an affordable price. By

helping key workers to buy or rent a home

the Government hopes to keep them in

the jobs they have trained for, retaining

the essential skills needed in our public

services. The scheme is targeted at key

worker groups in London, the South East

and East of England where there are

problems with recruitment and retention.

From 28 December 2007, eligibility was

expanded to those with Key Worker

status in the KWLP to be included as a

priority group across all other regions that

operate a regional version of the scheme.

Products - Eligible MOD personnel now

have access to the following products

under the KWL scheme:

Open Market Homebuy. This scheme enables key workers and other priority first time buyers to buy a property on the open market with the help of a Government-funded loan of 12.5% of the purchase price of the property, that can be topped up with an additional 12.5% from another lender. The Government loan is repaid when the occupant can afford it or when the property is sold. The lender’s loan allows for a five year interest free period. The one exception to this arrangement is an enhanced offering from one lender who will provide a loan to supplement the Government loan to a total of up to 32.5% of the purchase price.

New Build Homebuy. Under this scheme purchasers can buy between 25% and 75% of a new build property (depending on what they can afford) on a leasehold basis.

Intermediate Rent Scheme. This is where the accommodation is provided by a registered social landlord. The tenant is likely to pay between 75% to 80% of the local market rent for the type of property that they live in. They would have an assured short hold tenancy whilst they remain a key worker.

First Time Buyers Initiative (FTBI). This aims to help eligible first time buyers to buy a new home with an affordable mortgage. They must take out a mortgage for at least 50% of the property purchase price, and English Partnerships will provide a contribution up to the full purchase price. After living in the home for three years, buyers will pay a fee to English Partnerships based on a small percentage of its contribution. FTBI homes will not immediately be available in all regions but applicants can check on availability through their Homebuy Agents.

Applications: The KWL programme is run on behalf of the Government by ‘Homebuy Agents’; these are housing associations (otherwise known as Registered Social Landlords or RSLs) who run a KWL scheme in their area of the country. ‘Homebuy Agents’ can register your interest, assess your eligibility and provide details of schemes in your area.

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Last Updated on Wednesday, 05 May 2010 15:43