Frequently Asked QuestionsFrequently Asked Questions

Low Cost Home Ownership                            

There are a number of HomeBuy products that provide eligible local residents with the opportunity to purchase an affordable home in Fareham.

 

HomesinHants is the Government appointed HomeBuy agent for Hampshire and the Isle of Wight.

 

If you are interested in any of the HomeBuy products you will need to register your interest with HomesinHants.  They will provide details of the schemes available in the area and detail who is eligible to apply for those schemes.

 Homes In Hants Poster (177KB)

To contact their customer services call 023 8062 8004 or email info@homeinhants.org.uk,alternatively you can visit the HomesinHants website (this is an external hyperlink).

                                     

                                                                                                                              

 

What are the different HomeBuy Products?                  

There are a number of affordable HomeBuy products for low cost home ownership that have been designed to help first time buyers, key workers, social tenants and others to buy an affordable home in an area where they live or work.

 

The following HomeBuy products have been designed to make entering the property market more affordable:

 

• Rent to Buy and Intermediate Rental Schemes
• New Build HomeBuy
• Armed Forces Home Ownership Scheme pilot (AFHOS)
• Homebuy Direct
• Resales

 

 

Rent to Buy and Intermediate Rental Schemes

 

If you're worried about committing to a mortgage at the moment there is a selection of newly built homes available in Fareham to 'try before you buy'.

 

The initiative offers eligible applicants the opportunity to rent a home now and buy it later!  Rents are lower than those on the open market to allow you to start saving towards purchasing your initial share in the property within a set time limit. 

    

For further information on any of the schemes contact the Housing Association direct or HomesinHants (this is an external hyperlink) on 02380 62 8004.

 

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New Build HomeBuy

Also known as shared ownership, New build HomeBuy provides properties that are available for purchase on a part rent/part buy basis. Purchasers normally begin with a 50% share but it is sometimes possible to buy as little as 25%. An affordable rent is paid on the remaining share you do not own. Further shares can be purchased until the property has been bought outright.

 

For further information on current schemes you will need to contact HomesinHants (this is an external hyperlink) on 02680 62 8004.

 

Armed Forces Home Ownership Scheme pilot (AFHOS)

 

This pilot scheme provides assistance to qualifying applicants to purchase a home.

 

If you have between 4-6 years continuous service you could get a loan between 15-50% of the value of a home when you purchase from the open market.

 

For further information on the scheme contact the HomesinHants (this is an external hyperlink) team on 023 8062 8004.

 

Homebuy Direct

 

This Scheme is designed to assist first time buyers to buy a new build home directly from a property developer.

 

You will need to be able to take out a mortgage of at least 70% of the purchase price; the remainder is paid by an equity loan which is interest free for the first 5 years.

 

Resales

 

Current shared ownership / homebuy homes may become available from an existing owner.  You must purchase the same (or larger) percentage share owned by the current occupant. These homes will be advertised on the HomesinHants website.

 

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