The voluntary homebuyers scheme



We’ve launched an exciting new home ownership scheme that will allow you to buy the home you rent from us.

With property prices as high as they are, coupled with the massive deposits required by mortgage lenders these days, lots of people who want to buy can never afford to do so. That’s where our new pilot scheme can help!

There are three buying options available:

  • Outright Sale - you'll need a significant deposit and will have to borrow money from a high-street lender
  • Shared Ownership - allows you to buy a share of your home and pay a small rent to Great Places on the percentage you don't own
  • Shared Equity - The Equity Loan scheme offers you the chance to borrow a percentage of the total value or “equity” of your home. Unlike Shared Ownership, you are the sole owner of your home, but when it comes to selling, Great Places shares in any profit (or loss) you make on the sale

To qualify for the scheme, there are several criteria that both you and your property need to meet, the key ones being:

You:

• must be the named person on the tenancy.
• must be able to prove your ability to raise the
   necessary finance.
• must not own or part-own any other properties.
• must have a clear rent account and have been living
   in your home for a minimum of one year.
• A full list of qualifying criteria is included in the 
   application pack.



Your property: 

  • will be individually assessed against a number of criteria.
  • will then be categorised as one we will sell or one we can’t.
  • may score differently from a neighbours because they’re individually assessed.
  • may not qualify now but could in the future (we’ll let you know).

Read the booklet on the right for more information.
 


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