HomeBuy scheme

If you are unable to buy your own home on the open market, you could get help to buy a home through a HomeBuy scheme.

The homeBuy scheme (formally known as Shared Ownership) is a way to buy what you can afford of a property now with the option of buying a larger share when you are able, and eventually owning it outright.

HomeBuy options

There are two main HomeBuy options:

New Build HomeBuy

The New Build HomeBuy scheme (formally known as Shared Ownership) helps you to buy a share of a newly built property, normally between 25 per cent and 75 per cent, and pay rent on the part you do not own (which is owned by a housing provider). You can buy further shares in your home until you own it outright.

HomeBuy Direct

The HomeBuy Direct scheme helps you to buy a property on certain developer sites through an equity loan of up to 30 per cent of the property's value.

There is also the Social HomeBuy scheme for tenants of participating councils and housing associations. It helps tenants to buy a minimum 25 per cent share of their current and pay rent on the remainder.

Am I eligible for a Homebuy scheme?

You may be eligible for one of the above schemes if any of the following apply to you. You are a:

• first time buyer
• previous home owner who can't now afford to buy without help (perhaps because you have broken up with your partner)
• housing association or council tenant
• key worker.

How can I apply for a Homebuy scheme ?

If you think you are eligible for help to buy a home through one of the HomeBuy schemes contact your local HomeBuy agent, who help eligible first time buyers to buy their homes.

The HomeBuy agent for South London is L & Q group.

Contact: L & Q group 
Tel: 0844 406 9800 
Write to: L&Q Sales team, 70 Court Road, London, SE9 5NP.

If you are a key worker, you should contact the HomeBuy agent for the area where you work.