Buying Your Home
Buying your home is probably the biggest financial decision you will ever make. We can help you onto the home ownership ladder in Tyne & Wear and Northumberland.
Here we provide you with details about the different options, where and how you can buy either your current home or a new home, and how to apply. You can also contact our Sales and Programme Manager for more information, and to help you through the process.
Right to Buy/Preserved Right to Buy
You may be able to buy your home using the Right to Buy scheme at a price lower than the full market value. This scheme is aimed at assured tenants.
For furthur information call Bernicia on 0844 800 3 800.
Right to Acquire
The Right to Acquire scheme helps tenants buy their home at a discount. You may be able to apply to buy your home through Right to Acquire if you’ve been a council, housing association or armed forces tenant (or a combination of these) for a total of at least:
• two years if your tenancy started before 18 January 2005
• five years if your tenancy started on or after 18 January 2005
For further information – Can I buy my home?
Homebuy/Shared Ownership
This scheme offers brand new homes for sale on a part buy / part rent basis and aims to help people who cannot initially afford to buy a suitable home outright. It allows you to purchase a property at shares between 30% and 90%. The share you purchase is funded by you - if you need a mortgage which you will arrange this with a bank or building society. The remaining share is rented from Cheviot Homes. Applicants must be in housing need and be unable to afford outright purchase. Priority will be given to existing public sector tenants, those on local authority or housing association waiting lists in priority housing need and key public sector works.
Homebuy Eligibility
Homebuy is aimed at helping people in housing need who are unable to purchase a property on the open market.
In order to be eligible to purchase a property under the Homebuy scheme, applicants must have a household income of less than £60,000 and be unable to purchase a property suitable to meet their needs on the open markets. Applicants are primarily expected to be first time buyers though some applicants who own or have previously owned a home may be eligible.
Priority will go to the following applicants:
• Existing social tenants (including Local Authority and Housing Association tenants)
• Serving military personnel
• Those that will address housing problems in local housing markets
• Other first time buyers
MOD personnel will be prioritised as follows:
• They have completed their basic (Phase I) training and they are in the one of the following:
Regular service personnel (e.g. Navy, Army and Air Force)
Clinical staff
MOD Police Officers
Uniformed staff in the Defence Fire Service
Ex Regular service personnel who have served in the Armed Forces for a minimum of 6 years and can produce a Discharge Certificate (or similar documentation) as proof, where they apply within 12 months of the date of discharge from service
The surviving partners of Regular service personnel who have died in service, where they apply within 12 months of the date of being bereaved.
Resales
Second-hand shared ownership properties are also available from existing owners. These are called resales.
For furthur information on any of these options please contact our Sales and Programme Manager on 0844 800 3 800.