Are you  a Key Worker?...                                                                                    

If so we are ideally placed to help.

The various HomeBuy programmes available to Key Workers are government led initiatives designed to assist eligible applicants,  to buy a home. These initiatives are targeted at certain occupational classes where there are clear geographical recruitment and retention difficulties linked to the cost of housing.

As well as fulfilling basic eligibility criteria laid down by the HomeBuy Agent (this will vary from area to area) you do need to demonstrate the ability to obtain competitive Mortgage Finance from a programme supportive lender.

That’s where Neville Richards can assist. 

Some mortgage lenders are very supportive of Key Worker applications and offer market leading rates and terms. Other mortgage lenders are somewhat less familiar with the programmes and offer quite average rates, some do not support the Key Worker programmes at all. We can effortlessly guide you through the seemingly stressful mortgage maze,  Whatever your circumstances ,we look forward to assisting you. 

 

MyChoice HomeBuy Mortgages        

   What is MyChoiceHomeBuy?...

 MyChoiceHomeBuy is a government funded low cost home ownership programme. Its aim is to help social tenants, key workers and other first time buyers who cannot afford to buy a suitable home in the area where they live or work.

MyChoiceHomeBuy is a flexible equity loan scheme designed to help households earning between £20,000-60,000 p.a. to buy their own home on the open market. You will own the home and the Homebuy agent's loan loan will be secured by a second charge against the property.

Who can apply for MyChoiceHomeBuy?
Eligibility for MyChoiceHomeBuy is targeted at groups such as social tenants and key workers. Most applicants are first time buyers; however, we can also help people who have previously owned properties but are now unable to buy without assistance, for example in the case of a relationship breakdown.

The government has prioritised the following groups for assistance under MyChoiceHomeBuy:

Social tenants i.e. existing housing association and council tenants

Those on housing waiting lists for social rented housing who are nominated by the local council as being in housing need

Public sector key workers


Some other priority first time buyers, including people serving the community or making a direct contribution to the economy as determined by Regional Housing Boards                

 





Do I need to have any savings?             

Your equity loan cannot be used as a deposit or towards your purchase costs. You will need to have savings. We estimate you will need about £3,500 to cover legal fees, mortgage fees, homebuyers report, land registry, local authority search fees and stamp duty.

What type of property am I not able to buy?

A commercial property
A property for sale at auction
A mobile home
A plot of land or a self build scheme
A property owned or part owned by you or your partner – except under certain circumstances
A property in poor condition
A property offered to you at a discount or on shared ownership terms by a housing association, local council or other public body
A property occupied by sitting tenants .

This section of our website has been created by an external source and as such we are not responsible for its content or accuracy. By clicking the  links below, you will be leaving Neville Richards Financial Services Ltd regulated site.

Useful Links:

www.communities.gov.uk – the government's main site with information about housing
www.direct.gov.uk – offers a range of government information and services, including for housing
www.housingcorp.gov.uk – for more information about housing associations
www.nhs.uk/accommodation – information about accommodation for NHS staff
www.teachersupport.org.uk – support and advice for teachers

 Please read our Privacy Statement    before completing any enquiry form or before sending an email to us.  The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.   YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.  The FSA do not regulate some types of buy to let, commercial, overseas mortgages, and credit or loans not secured on property. Calls may be monitored and recorded for training / compliance purposes. 

Neville Richards Financial Services Ltd is an appointed Representative of Intrinsic Mortgage Planning Ltd which is authorised and Regulated by the Financial Services Authority. Intrinsic Mortgage Planning Limited is entered on the FSA register (http://fsa.gov.uk/register/) under reference 440718.