New Build HomeBuy
What is New Build HomeBuy?
New Build HomeBuy is a shared ownership scheme where you can buy/part rent a new home from a registered provider.
How does it work?
You buy a share of between 25% and 75% in a new home and pay rent on the part you don’t own. If and when you can afford to, you can buy a bigger share in your home and can eventually own it outright. Your mortgage lender may ask you to pay a deposit to buy a home through this scheme.
If you want to sell your home, your share will be sold by the registered provider to allow other people in need to access affordable housing. If you own 100% of your home when you sell it, you can sell the property yourself on the open market.
The following developments are part of this scheme:
Durham Area
| Development | Developer | Location |
|---|---|---|
| Glenside View | ISOS | Chester-le-Street |
| The Meadows | Riverside Housing | Framwellgate Moor |
| The Lanes | Tees Valley Housing | Newton Aycliffe |
Hartlepool Area
| Development | Developer | Location |
|---|---|---|
| Hartfields Retirement Village | Joseph Rowntree Housing Trust | Hartlepool |
| Warren Road | Innovus Homes | Hartlepool |
Middlesbrough Area
| Development | Developer | Location |
|---|---|---|
| Southwell Court | Erimus Housing | Middlesbrough |
| St Pauls - Newport | Erimus Housing | Middlesbrough |
