What is Housing Options? Govt. funded housing initiative Launched on 1 st April 2006 2 London Homebuy Agents Appointed…

What is Housing Options?

• Govt. funded housing initiative

• Launched on 1st April 2006

• 2 London Homebuy Agents Appointed…

Who are the Homebuy Agents?

What do Homebuy Agents do?

• 1 stop shop

• Share Database

• Host www.housingoptions.co.uk website

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Housing Options Products

• New Build HomeBuy & Resales• London Wide Initiative (key workers

only)• Homebuy Direct• IMR• Rent to Homebuy

NewBuild Homebuy & Resales

• Part Buy – Part Rent

• Brand new or existing homes

• Purchase between 25%-75%

Homebuy Direct

• Buy Direct from Private Developer

• Equity Loan of 30% towards cost of property

• No interest on equity loan for first 5 years

• Interest set at 1.75% per annum, increasing on 1st April at RPI +1%

London Wide Initiative

• For keyworkers only

• Buyers must buy a share of between 50 and 70%

• No rent or charge to pay on the unowned share

Intermediate Market Rent

• Rented schemes that charge rents that are set at about 25% below open market rent levels

• No deposits required

• Available to all applicants

Rent to Homebuy

• Rent a brand new or existing home for up to 5 years

• Rent set at 20-30% below market rent levels

• Can then buy the property under Newbuild HomeBuy terms

Who is eligible?

• All applicants must: Have savings, or access to, at least £4,000 to cover the cost of

buying a home; Be employed on a permanent contract of employment; For IMR have at least 6 months remaining on an employment

contract Sell their existing homes if they are home owners; Have a good credit history; and In these ‘credit crunch’ affected days….. a deposit of anything

between 10% and 25% of the share they wish to buy.

What To Do Next?

• Advise them to fill in an online Housing Options Application form @ www.housingoptions.co.uk;

• Ask them to call 0845 230 8099

• For further information on these products or to search for available properties visit www.housingoptions.co.uk