HomeBuy, opening the door to home ownership

Many aspiring homeowners may feel that in the current economic climate it is not
possible for them to enter into home
ownership. However, this may not be
the case thanks to the Government's
HomeBuy initiative.

Catalyst Housing Group, HomeBuy agent
for Berkshire, Buckinghamshire, Oxfordshire and Surrey offers a one-stop-shop to eligible individuals who 'live or work' in these areas helping them to take those important firststeps towards home ownership.

Catalyst can help those employed by the
Police service within Thames Valley and
Surrey areas, by identifying which schemes
they are eligible for, once they have registered.

Farhaan Mirza, Marketing manager explains
"Catalyst, as a HomeBuy agent, work
with a number of organizations such as other housing associations, private developers, estate agents and Local Authorities amongst others, to ensure the customer comes first and they are kept informed about all the opportunities
that are available to them."

Catalyst organises regular HomeBuy shows offering a goldmine of information on
HomeBuy and all other affordable housing
schemes. At these events, individuals can
meet with independent financial advisers
and solicitors who provide free affordability assessments and advice. Entry to these shows is free.

HomeBuy Direct is a brand new sharedequity
scheme designed to help first time
buyers own their own property. On specific
new build properties, buyers can get a loan of up to 30 per cent of the purchase price, co-funded by the Government and the developer and available through Catalyst.

New Build HomeBuy, also known as Shared Ownership, offers the option of purchasing
an affordable share in a property and
then buying further shares by 'staircasing' towards full property ownership as circumstances change.A subsidised rent is paid on the remaining share. Re-sale properties become available when a homeowner who has previously purchased a property through New Build HomeBuy decides to sell their share and their property becomes available.

Rent to HomeBuy allows individuals to
rent a newly built property at 80% of the
current market rental value for between
three to five years. At the end of the agreed period residents have the option to buy a share in the property without obligation. Aimed at those who have difficulty raising a mortgage, the rental period is designed to provide an opportunity to save for a deposit
to put towards buying a share in their home.

• For more information go to www.catalysthomebuy.org.uk or call 0845 601 7729.