Please use the FAQ options to your right to navigate through the different FAQ topics.
If your question is not answered here, please contact our support team directly.
A HomeBuy Agent is a Registered Provider (RP) appointed by the Homes and Communities Agency to provide a 'one-stop-shop' and point of contact for applicants interested in accessing low cost home ownership. They will assess your eligibility and give you details of available schemes in your area, and provide help and advice on all aspects of Affordable Housing.
HomeBuy Agents also help Housing Providers market their schemes, and provide them with the details of interested applicants.
Each HomeBuy Agents cover a particular geographical area, and has a proven track record in providing low cost home ownership.
Please see the section Am I eligible to Apply
You will have to register with the HomeBuy Agent that covers the geographical area where you want to live.
Once registered, the HomeBuy Agent will share your information with Housing Associations or developers who may also send you information on properties they are marketing. Lea Valley Homes is the HomeBuy Agent for Hertfordshire.
We are unable to guarantee when and if a suitable property will become available.
Owner-occupiers, including existing shared owners and keyworkers, are as standard not eligible for assistance through Homes and Communities Agency funded products. If a potential purchaser who owns a property wishes to access low cost home ownership they must demonstrate that they are in housing need and have local authority support or have sold their property prior to applying.
It will be your responsibility to repair and maintain your new home. Most New Build Shared Ownership properties will have a defects period for the first 6 - 12 months for any defects caused by the builder's workmanship, and all new properties are covered by the NHBC or Zurich guarantee for latent defects.
Whether you purchase a property through the HomeBuy schemes or rent through Intermediate Rent, you will be liable for any council tax charges.
Buying a property is expensive, and applicants in the Herts. area will have to have access to approximately £2,000 to cover the 'one-off' legal fees, stamp duty, mortgage arrangement fees etc. This may be funded through your own savings or from help via family/friends etc. without the need to take out a personal loan or borrow the money on your mortgage. A deposit will also be required for any purchase of a property through HomeBuy.
We recommend you seek advice from an independent financial advisor to see if home ownership is a realistic option for you.
Read the information on this web site- it should give you a good indication as to whether you are eligible to apply. If you are in any doubt, contact Lea Valley Homes either by e-mail: leavalleyhomes@aldwyck.co.uk, or by telephone on 01582 869440.
If you apply for a property where more than one person is interested, the housing association will assess applications according to their housing need and affordability. In some cases, certain groups of people, eg existing social housing tenants or serving ministry of defence personnel may be prioritised.
As a guide, 1 bedroom more than required based on your current household composition. Houses with 4 or more bedrooms may only be purchased if you 'need' a 4 bed home.
If you have kept accounts for more than three years, your application can usually be treated in the same way to that of someone who is employed by a company. If you have not kept accounts or have been self employed for less than three years, we will ask you to seek financial advice prior to accepting your application.
In the current economic climate, lenders are more likely to approve mortgages to people with "clean" credit histories. If you are unsure of your own credit history you can access a copy of your credit file from websites such as Experian.co.uk. A fee is payable but this could save you time and money in the long run.
From the 1st April 2011 keyworkers no longer have priority for HomeBuy; if you are a first time buyer and you meet the criteria you may still apply.
Once you have registered your interest in a property, the registered provider receives an email with your details. Should you be successful the registered provider will contact you directly.
REMEMBER! YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. HOUSE PRICES CAN GO DOWN AS WELL AS UP
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