LA can determine which type of properties, areas are in the scheme and mortgage limit Mortgage Banks Springboard Parental Assistance Mortgage Example – – Barclay’s family springboard mortgage variations from different lenders mortgage enable first time buyers and movers to purchase without a borrower deposit if family can provide 10% of the price as security. property’s Shared ownership Housing Can be grant Help to Buy Shared ownership (Part buy Initial shares purchased from 25% - 75% Association/Local funded from - part rent) First time buyers or used to own a home Authority Affordable and cant afford to buy now Housing New build or resales Programme Maximum income limits £80,000 Can staircase to 100% full ownership Shared ownership Local Authority Local Authority Local Authority Partnership Purchase Buyer purchase up to 70% and Banks indemnity Scheme (LAPP) LA purchases remaining 30% First time buyers and existing home owners 5% deposit on purchased share Can buy on open market LA can set criteria and mortgage limit Shared ownership Heylo Housing Pension funds Your Home Existing homes can be purchased Minimum 10% deposit (no mortgage), can purchase more shares at anytime up to outright purchase Maximum income £80,000 Shared ownership Heylo Housing Pension funds Home Reach Shared ownership shares from 25-75% Developer share sold to Heylo New build properties Maximum income £66,000
LA can determine which type of properties, areas are in the scheme and mortgage limit Mortgage Banks Springboard mortgage Parental Assistance Mortgage – variations from different lenders Example – Barclay’s family springboard mortgage enable first time buyers and movers to purchase without a borrower deposit if family can provide 10% of the property’s price as security. Shared ownership Housing Association/Local Authority Can be grant funded from Affordable Housing Programme Help to Buy Shared ownership (Part buy - part rent) Initial shares purchased from 25% - 75% First time buyers or used to own a home and cant afford to buy now New build or resales Maximum income limits £80,000 Can staircase to 100% full ownership Shared ownership Local Authority and Banks Local Authority indemnity Local Authority Partnership Purchase Scheme (LAPP) Buyer purchase up to 70% LA purchases remaining 30% First time buyers and existing home owners 5% deposit on purchased share Can buy on open market LA can set criteria and mortgage limit Shared ownership Heylo Housing Pension funds Your Home Existing homes can be purchased Minimum 10% deposit (no mortgage), can purchase more shares at anytime up to outright purchase Maximum income £80,000 Shared ownership Heylo Housing Pension funds Home Reach Shared ownership shares from 25-75% Developer share sold to Heylo New build properties Maximum income £66,000
Housing-products-table-Oct-2018.docx