HomeBuy Direct

What is HomeBuy Direct?

HomeBuy Direct is a new £400 million initiative launched in September 2008. It is aimed at helping more than 10,000 first time buyers currently frozen out of the mortgage market to meet their housing aspirations.

How does it work?

Under HomeBuy Direct, you will be offered an equity loan of up to 30% of the purchase price on selected new build schemes. There is a list of participating developments at the bottom of the page.

You need to have funds (including a mortgage plus any deposit where available) of at least 70% of the purchase price. HomeBuy Direct equity loans make up the rest of the 30%.

For the first five years you pay no interest on the loan but at the start of year six, you must start to make monthly payments at a rate of 1.75% rising at RPI + 1% p.a.

You can then buy a bigger share in your home over time in a process known as ‘staircasing’.

For all HomeBuy products, when the home is sold the equity loan is repaid as a percentage of the market value at the time of sale. So if you received a 25% contribution to purchase under HomeBuy you will repay 25% of the value when it is sold. Staircasing before the home is finally sold on will increase your share of the future sale proceeds.

For full details of the HomeBuy Direct scheme, please download the following buyers guide:

Exclusively for teachers……No Deposit Required with HomeBuy Direct.

For more information and to see if you’re eligible download our guide here or call The Teachers Building Society direct on 0800 378 66

The following developments are part of this scheme:

Darlington Area

DevelopmentDeveloperLocationEnd of Funding for HomeBuy Direct
College GardensCharles ChurchDarlington30 September 2010
The PasturesMiller HomesDarlington30 September 2010
West ParkBellway HomesDarlington30 September 2010

Durham Area

DevelopmentDeveloperLocationEnd of Funding for HomeBuy Direct
Central GrangeDunelm HomesBishop Auckland30 September 2010
Manor ParkTaylor WimpeyBishop Auckland30 September 2010
St AndrewsPersimmonBishop Auckland30 September 2010
The WillowsKeepmoatBowburn30 September 2010
Glenside ViewBellway HomesChester-le-Street30 September 2010
Dales ViewShepherd HomesConsett30 September 2010
FellviewBarrattConsett30 September 2010
The CroftKeepmoatConsett30 September 2010
The GreenGeorge WimpeyConsett30 September 2010
Bishops MeadowPersimmonCoundon30 September 2010
Finchale ViewShepherd HomesDurham30 September 2010
GreenridgesGentoo HomesDurham30 September 2010
The MeadowsMiller HomesFramwellgate Moor30 September 2010
DenewoodYuill HomesMurton30 September 2010
Glebe CourtDunelm HomesMurton30 September 2010
Cobblers HallMiller HomesNewton Aycliffe30 September 2010
BeechwoodBarrattSacriston30 September 2010
St Cuthberts MeadowPersimmonSacriston30 September 2010
SaxonfieldsBarrattSpennymoor30 September 2010
Whitworth ParkYuill HomesSpennymoor30 September 2010
Orchard MeadowsDunelm HomesStanley30 September 2010
Deerness HeightsPersimmonStanley Crook30 September 2010
HighcroftPersimmonThornley30 September 2010
Manor GrangeBarrattWingate30 September 2010

Hartlepool Area

DevelopmentDeveloperLocationEnd of Funding for HomeBuy Direct
Bishop CuthbertBellway HomesHartlepool30 September 2010
Sedgwick ParkPersimmonHartlepool30 September 2010
SouthbeachBellway HomesHartlepool30 September 2010
The HawthornsPersimmonHartlepool30 September 2010
Trinity Square and CourtYuill HomesHartlepool30 September 2010

Middlesbrough Area

DevelopmentDeveloperLocationEnd of Funding for HomeBuy Direct
Acklam GreenBellway HomesMiddlesbrough30 September 2010
Parkside GardensBarrattMiddlesbrough30 September 2010
Southwell CourtErimus HousingMiddlesbrough30 September 2010
St Cuthberts CourtYuill HomesMiddlesbrough31 March 2011
St Cuthberts MewsYuill HomesMiddlesbrough30 September 2010
Trinity GardensKeepmoatMiddlesbrough30 September 2010

Redcar and Cleveland Area

DevelopmentDeveloperLocationEnd of Funding for HomeBuy Direct
KingschasePersimmonRedcar30 September 2010
Kirkleatham GrangeBellway HomesRedcar30 September 2010
SteeplechaseTimes4HomesRedcar31 March 2011

Stockton-on-Tees Area

DevelopmentDeveloperLocationEnd of Funding for HomeBuy Direct
College GardensYuill HomesBillingham30 September 2010
StoneleighPersimmonIngleby Barwick30 September 2010
The ChaseBarrattIngleby Barwick30 September 2010
Fairview GardensMiller HomesNorton30 September 2010
Hardwick GreenKeepmoatStockton-on-Tees30 September 2010
KingsmoorMiller HomesStockton-on-Tees30 September 2010
Nursery GardensDunelm HomesStockton-on-Tees30 September 2010
Victoria ParkPersimmonStockton-on-Tees30 September 2010
Mandale ParkKeepmoatThornaby30 September 2010
Mandale ParkBarrattThornaby30 September 2010

© Copyright 2009 - Time2Buy, PO Box 34, Municipal Buildings, Church Road, Stockton-on-Tees, TS18 1LE

Time2Buy Home | About Time2Buy | About the HomeBuy Scheme | Property Search | Apply Online | FAQs | Contact Us | Admin Login

Properties in Billingham | Properties in Bishop Auckland | Properties in Bowburn | Properties in Chester-le-Street | Properties in Consett | Properties in Coundon | Properties in Darlington | Properties in Durham | Properties in Framwellgate Moor | Properties in Hartlepool | Properties in Ingleby Barwick | Properties in Middlesbrough | Properties in Murton | Properties in Newton Aycliffe | Properties in Norton | Properties in Redcar | Properties in Sacriston | Properties in Spennymoor | Properties in Stanley | Properties in Stanley Crook | Properties in Stockton-on-Tees | Properties in Thornaby | Properties in Thornley | Properties in Wingate

Website Development by Montal Computer Services