With HomeBuy Direct, you can buy a newly built home on a designated HomeBuy Direct development with assistance of two equity loans. One loan is from the Homes and Communities Agency and one from the house-builder.
Over the first five years of ownership you will pay nothing on the amount that the Agency and house-builder contributed to your purchase.
After five years, you will pay a fee on the two equity loans of 1.75% per annum. This fee will increase each year by the RPI plus 1%.
When you sell your HomeBuy Direct home, you will repay the loans from a share of the sale proceeds. So, if you were initially assisted to purchase with a 30% contribution, the repayment will be 30% of the total value when it is sold.
Properties For Sale
There are currently no HomeBuy Direct properties available
For further information about the developments, please visit South West Homes or call 0300 100 0021