As from April 2006 the Government has launched two new programmes whereby all Low Cost Home Ownership schemes will now be called HomeBuy.  To be eligible for the scheme all applicants are now required to register both on Epsom & Ewell Borough Council's Housing Needs Register and with Thames Valley Housing who are the official HomeBuy agents for Surrey.  The HomeBuy schemes on offer are:

My Choice HomeBuy

A government funded scheme where you can borrow an equity loan between 15% and 50% of market property purchase price. The amount you can borrow will of course be dependant on an individual assessment.
You can select your own regulated mortgage lender and invest a deposit.
Customer income from £20k - £60k pa
 

Ownhome for Keyworkers

Offers the chance to take up to 40% equity loan of the property value and no repayment on the interest for the first 5 years.  A 5 year fixed rate of 1.75%, which then rises after 5 years to 3.75% interest per year from year eleven.  There are no hidden premiums or no extra charges on the mortgage.

For more information on OWNHOME please call 0845 607 0110 or go to www.ownhome.co.uk

New Build HomeBuy

This is a part rent/buy scheme that replaces the traditional Shared Ownership scheme. This is a scheme whereby you purchase a share of the property - normally with funds from a mortgage, and pay a subsidised rent on the remaining percentage. After one year of living in the property, further shares can be purchased.  This is referred to as "staircasing".  If you decide to buy the property outright there will be no further rent payable.

Open Market HomeBuy

This offers an equity loan so that you purchase approximately 75% of the equity in a property of your choice from the open market, subject to criteria.  The remaining 25% is funded through the equity loan with no interest to pay on that loan.  The loan is repayable at market value when the property is eventually resold.  The main group of people who will be helped by Open Market HomeBuy are existing tenants of housing associations and local councils, people on the Council’s Housing Needs Register who are nominated as being in need, certain key public sector workers and some other priority first time buyers.  

Resales

When the owner wants to sell we are able to market the property to applicants on our register.  We are unable to predict the availabilities of these properties as it depends on each owner deciding to sell.

To apply for HomeBuy

To apply for Homebuy you need to apply to the Council’s Housing Needs Register and also with Thames Valley Housing Association who are the Surrey agents for Homebuy.  All applicants may be subject to confirmation of employment status and eligibility criteria.

You can phone the Thames Valley Housing Homebuy Helpline 0845 600 6699 or alternatively you can complete an application form, available online at www.homebuy.co.uk or www.homebuy4u.co.uk and submit electronically.  Further information about the schemes can also be viewed on this website.

You can apply to join the Council's Housing Needs Register either by requesting the  joint Housing Needs Register and Low Cost Home Ownership application form from Housing Services on 01372 732428 or you can print off and return the application form listed below.  If you use this option please read the leaflet called Housing Needs Register and Allocation Policy Summary before completing the form.

Housing Needs Register and Low Cost Home Ownership application form

Housing Needs Register and Allocation Policy Summary 

Further Information 

Telephone: 01372 732434
email: contactus@epsom-ewell.gov.uk