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New Build HomeBuy

 

New Build HomeBuy (or part buy, part rent) is a scheme which has been specifically designed to help those who are unable to afford the cost of buying a property outright on the open market.

 

It works by enabling you to purchase a share in your new home, and pay a subsidised rent on the part you don’t own to INplace. You will buy your home on a lease which will normally be 125 years for new homes. If you are buying a second hand property, the length of lease will be based on the number of years remaining since the original lease was first issued.

 

Why buy through the New Build HomeBuy scheme?

 

•  If you buy through New Build HomeBuy you will own part of your home, rather than paying rent with no return.

 

•  Your monthly mortgage and rent can work out much cheaper than buying outright, and somtimes not much more than renting.

 

•  You can buy more shares through a process known as staircasing or move if you want to.

 

•  You only buy what you can afford so you don't overstretch yourself financially. This will be calculated for you at a financial interview.

 

For more information please contact our Home Ownership Team, or download the booklet below:

 

Phone: 0845 606 1221

Email: info@inplace.co.uk

 

» INplace your guide to affordable home ownership (PDF)

 

Or click here to access our Frequently Asked Questions page

 

Resale

 

The 'resale' of an existing New Build HomeBuy property (part buy, part rent) is where the owner(s) of the property wish to sell it on.

 

If you are interested in purchasing a property in this way, you will be able to buy the same percentage share as the previous owner(s) and pay a subsidised rent on the remaining share.

 

For more information please contact our Home Ownership Team:

 

Phone: 0845 606 1221

Email: info@inplace.co.uk

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