FAQs
Q: What is a HomeBuy Agent?
A: We are registered social landlords appointed by the Government’s Housing Corporation
as a one stop shop and point of contact for people looking for an affordable home
to buy in their area.
Q: What properties are available?
A: If you know of a scheme or development that you are interested in, let my4walls
know. We can share your application details with other housing associations who
may also send you property information. Otherwise you can browse what’s available
on our property search (LINK to p5)
A: Buying a property is expensive and feedback from buyers suggests you’ll need
about £2,500 to pay for the purchase. To proceed with your application, you will
need to have access to at least that without the need to borrow extra money on
your mortgage or to take out a personal loan.
If you think you can afford a mortgage you should ask the advice of an independent
mortgage advisor.
Q: Can I buy additional shares?
A: If you buy a New Build HomeBuy property you can increase your ownership at
a later stage and own the property outright if you wish to. This is called staircasing
and many people who buy affordable homes staircase to become full owners.
Q: I am not a UK National. Am I eligible to apply?
A: You will be eligible for HomeBuy if you have the right to reside permanently
in the UK. If you are not a British citizen this means you should have “indefinite
leave to remain” stamped inside your passport. People from member states of the
EU/European Economic Area may also apply if they are currently living and working
in the UK.
Q: What happens if I want to sell my HomeBuy home?
A: You can get advice about selling and re-purchasing a property from the housing
association that dealt with the original purchase or by contacting my4walls for
advice.
