The HomeBuy scheme is the government’s housing solution facilitated through the HCA (Homes and Communities Agency).

The schemes are run by HomeBuy agents, who can help you through the application process to buy a home on a scheme.

HomeBuy agents are appointed housing associations - non-profit organisations that manage housing for people who have difficulty buying a home.

If you think you are eligible for help to get a home through a HomeBuy scheme, contact the local HomeBuy agent for the area where you want to live.

Click here for a list of HomeBuy agents: http://www.smartshare.co.uk/frequently-asked-questions-about-affordable-...

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The current types of HomeBuy are as follows:

New Build HomeBuy, under which purchasers buy at least 25% of a newly-built home, and pay rent on the remainder. The HCA generally subsidises housing associations or other providers to hold the remaining share. The rent is capped at 3% of the value of the unsold share, but typically set at 2.75%. Purchasers may buy additional shares whenever they can afford to do so; this is known as "staircasing".

Rent to HomeBuy is a variation launched in July 2008. It allows applicants to rent their new home for less than market rent (intermediate rent) to enable them to save for a deposit. Within five years, the tenant has a right to purchase a share in the home.

HomeBuy Direct is a new form of shared ownership introduced in 2009, under which the government and a housing developer jointly fund an equity loan of 30% of the valuation, so that the purchaser only needs to pay a mortgage on 70% of the value. If the purchaser buys an additional share, all three parties participate in any increase in value. The HCA allocated £300 million to the scheme for 2009—2011, and 10,000 homes are available under the initiative.

Open Market HomeBuy allowed purchasers to buy at least 25% of a property on the open market, with a conventional mortgage on that part, and a low-interest loan on the remainder. This is not currently available as the funding for 2009-10 has already been fully committed. Over 6,000 households used the scheme in 2008/09.

Social HomeBuy allows tenants of participating Councils and housing associations to buy their rented home on shared ownership terms, with a proportion of the usual Right to Acquire discount.

The First Time Buyers Initiative is an older scheme aimed at first time buyers who can arrange a mortgage for at least 50% of a home. The Government provides an equity loan for the remainder which is interest-free for the first three years, rising to 3% after 5 year. d.

To apply for all HomeBuy schemes, applicants must contact their local HomeBuy Agent.