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Accommodation / Key Worker Living


What help is available?

There are five options available to keyworkers in Hampshire who satisfy the criteria as stated under the 'Eligibility' tab:

Open Market HomeBuy - is a Government backed scheme that aims to help teachers in England who cannot afford to buy a home on the open market with assistance. The scheme provides access to additional money called equity loans, which runs alongside a conventional mortgage loan.

Two equity loans, each worth around 12.5% of the value of your home are provided:

  1. One is provided by the same lender that you select to provide your conventional mortgage loan.

  2. The other is provided by the Government and administered by a HomeBuy Agent (for Hampshire Swaythling Housing Association·has been appointed to operate the scheme).

Open Market HomeBuy GLO - The government have just announced a new way to buy a home of your own offerning a loan to top up your mortgage.  This simple scheme involvers a government loan up to a maximum of 17.5% of the purchase price of the home you choose on the open market.  For further information about the new scheme please call HomeinHants on 023 8068 8004.

New Build HomeBuy - is also know as shared-ownership of newly built properties.  To start off with, purchases normally begin with a 50% share but it is sometimes possible to buy as little as 25% and pay a reduced rent on the remaining share.  You can buy further shares later on until you own the home yourself outright or your can stay as long as you wish as a shared owner.

First Time Buyers Initiative (FTBI) - This makes more affordable homes available to first time buyers priced out of the housing market.  It is part of the Governent's new 'HomeBuy' low cost home ownership initiative and is available through HomeBuy Agents.

'Intermediate Renting' - where the rent is set at a level between that charged by social and private landlords. The accommodation is provided by a registered social landlord.

For further information about any of the above please go to www.homesinhants.co.uk