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This section gives information about a variety of schemes which are available to help people help people on modest incomes who cannot afford to buy a home without help, get a first step on the property ladder. These schemes are called:
- Right to Buy
- Shared Ownership
- Discounted Home Ownership
- HomeBuy.
Right to Buy
This scheme allows existing tenants of Selby District Council to buy their council home at a price lower than its full market value. For further details please see our dedicated page using the link below.
Right to Buy Scheme
Shared Ownership
What is it?
Shared Ownership allows people on low incomes who could not afford to buy a home, to buy a share in a property (usually 25%, 50% or 75%) and then pay rent to a Housing Association on the remaining share. Purchasers may then buy further shares in the property when they can afford to do so, so that they may eventually own 100% of the property.
Who is eligible?
Priority is normally given to existing council or housing association tenants or those on housing waiting lists. Normally applicants have to show they have a 'local connection' to the area, eg
Already living in the area
Working in the area
Having family in the area.
How do I apply for Shared Ownership?
Conventional Shared Ownership has now been replaced by a new Government scheme called 'HomeBuy'. Please see below for more information.
Discounted Home Ownership
What is it?
Discounted Home Ownership is where a property is sold at a "discount" on market value. A purchaser can buy 100% of the property but it would be priced at a substantial discount to open market value (sometimes with up to 50% discount). Normally the property is sold as a 'leasehold' and a Housing Association keeps the 'freehold' of the property. When the property is resold it is sold with the same discount to ensure it stays as an affordable home. The seller will be able to keep any increase in the value of their proportion.
Who is eligible?
This scheme is run by Housing Associations in the area. Normally priority is given to given to existing council or housing association tenants or those on housing waiting lists. Normally applicants have to show they have a 'local connection' to the area, eg
Already living in the area
Working in the area
Having family in the area.
How do I apply for Discounted Home Ownership?
If you are interested in Discounted Home Ownership you should complete Selby District Council's Housing Application Form. In completing this form you should tick 'Yes' to the question 'Are you interested in Shared Ownership?' You will be contacted when schemes come through for sale.
In addition to the above, you can also contact your local HomeBuy agent, who will have details of Discounted Home Ownership schemes in the area.
North Yorkshire and Humberside HomeBuy Agent:
Joseph Rowntree Housing Trust:
Tel: 0800 633 5670
Email: homebuy@jrht.org.uk
Website: www.jrht.org.uk
West and South Yorkshire HomeBuy Agent:
Space Property
Tel: 0113 243 6893
Email: enquiries@my4walls.co.uk
Website: www.my4walls.org.uk
HomeBuy
What is it?
From 1st April 2006, the Government's new HomeBuy scheme enables social tenants, key workers and other first time buyers to buy a share of a home and get a first step on the ladder.
There are three HomeBuy products based on equity sharing to offer people a choice in the type of home they can buy:
New Build HomeBuy
Open Market HomeBuy
Social HomeBuy
Open Market and New Build HomeBuy have now replaced the traditional Shared Ownership schemes.
New Build HomeBuy
New Build HomeBuy enables people to buy a share of a newly built home. Purchasers will buy a minimum initial 25% of a newly built home. A housing provider will hold the remaining share of the property. The housing provider may charge a small amount of rent on the remaining share of the property. Purchasers may buy further shares in the property when they can afford to do so, to a maximum of 100% of the property.
Open Market HomeBuy
Open Market HomeBuy enables people to buy a home on the open market with a part mortgage and part equity loan provided by a HomeBuy agent. No interest is charged on the equity loan from the HomeBuy agent; however, this would be repaid when the property was sold. This scheme is aimed primarily at Key workers and first time buyers.
Social HomeBuy
Social HomeBuy enables tenants of local authorities to buy a share in their existing home from 25% up to 100%. Buyers will receive a discount on the initial share purchase (to a maximum of £10,000 in the Selby District). Selby District Council is not operating this scheme at the moment.
If you are interested in New Build HomeBuy or Open Market HomeBuy schemes you should complete Selby District Council's Housing Application Form. In completing this form you should tick 'Yes' to the question 'Are you interested in Shared Ownership?'. You will be contacted when schemes come through for sale. In addition to the above, you can also contact your local HomeBuy agent, who will have details of HomeBuy schemes in the area and give you further information.
North Yorkshire and Humberside HomeBuy agent:
Joseph Rowntree Housing Trust
Tel: 0800 633 5670
Email: homebuy@jrht.org.uk
Website: www.jrht.org.uk
West and South Yorkshire HomeBuy agent:
Space Property
Tel: 0113 243 6893
Email: enquiries@my4walls.co.uk
Website: www.my4walls.org.uk
Further information on HomeBuy can be found on the Government's website: www.communities.gov.uk
For a list of Housing Associations which operate in the Selby District please click on the link here. | 
