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Council and housing association homes

Low cost home ownership

Many people can't afford to buy a home on the open market. It can be an expensive commitment.

But there are some interesting new ways to help bring home-owning within reach. Most schemes are for households earning less than £60,000 a year who would otherwise be unable to buy.


New Build HomeBuy (shared ownership)


You buy a share of between 25% and 75% of a newly-built property through savings or a mortgage. You pay rent to a not-for-profit organisation on the remaining share.


Rent to HomeBuy


You can rent a newly-built property for up to five years at an affordable rent (80% or less than the market rent) while you save for a deposit on the home. You get the first option of buying it at the end of the rent period.


Help to Buy


Help to Buy is a new scheme designed to reduce the costs of home ownership by lowering the deposit required by lenders, and also keeping monthly repayments down.


A Help to Buy equity loan is available from April 2013 for buyers of new properties worth up to £600,000. You could get a 20% equity loan if you have saved a minimum 5% deposit towards a new property you want to buy and live in. The equity loan is charge free for the first five years, and can be repaid in stages, at the end of the 25 year mortgage or when you sell the property.


Help to Buy North West works in partnership with housing associations and most of the UK’s top house builders, to offer a superb choice of desirable new-build homes at developments which offer government-backed affordable ownership options.


More information on low cost home ownership


You can go through Help to Buy North West, a not-for-profit organisation, to see if you’re eligible for these schemes and to see what else is available. Help to Buy North West can advise you about the other costs of buying a home - like legal fees, and taxes – and about the regular costs like paying the mortgage, repairs and service charges.


Go to the Help to Buy North West website

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Did you know that you can use your Manchester Move rehousing number to apply for homes on Pinpoint?


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