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Help to Buy

Government Help to Buy Scheme

All apartments, excluding the affordable apartments, are available to purchase through the Government’s Help to Buy Scheme, available to first time buyers and home movers.

With a Help to Buy Equity Loan, the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

For more information, please visit:
www.helptobuy.gov.uk

Alternatively, to submit an application visit:
www.helptobuyese.org.uk/apply-online

Affordable Homes – South West Help to Buy

Overview

These homes are available as part of a discounted sale scheme, in conjunction with Cornwall Council and cannot be purchased through South West Help to Buy.

Anyone wishing to purchase an affordable home has to be approved by South West Help to Buy before they can proceed with purchasing one.

Affordable homes are not available to anyone wishing to purchase on a buy-to- let basis nor as a second residential/holiday home.

How to Apply

All potential parties interested in purchasing an affordable home must register with South West Help to Buy and submit their application to be fully assessed and approved for eligibility.

South West Help to Buy will only process applications on an individual basis to assess eligibility.

Contact Details

South West Help to Buy can be contacted directly to assess the eligibility of an applicant for an affordable home only.

For further information contact:

South West Help to Buy 
Tel: 0300 1234161 
www.helptobuysw.org.uk

To submit an application visit:
www.helptobuysw.org.uk/pdf/qwewe.pdf

Ownership

The affordable homes are being sold at 60% of the current market value and will always be sold on this basis.

At the point of resale an owner will, only in perpetuity, own 60% of the market value at any time regardless of the sale price.

Stair-casing to own a 100% share is not an option with an affordable home.

Criteria

A Section S106 agreement applies, therefore South West Help to Buy will process documents and assess clients based on their local connection to Lostwithiel as follows:

  • The client has lived/worked in the Lostwithiel parish for 3 years, within the last 10 years. OR
  • The client has lived in the Lostwithiel parish for the first 10 years of their 16 years in the area. OR
  • The client was a resident at birth in the Lostwithiel parish and has a birth certificate to prove this.

Applications not meeting this criteria will be considered as follows:

From: October 22nd 2017 – clients from surrounding areas such as Lanlivery, Lanhyrdock, St Winnow, St Sampson may apply for an affordable home.

Then: Following a lapsed period of 90 days, 21st November 2017 onwards – clients anywhere in the Cornwall area may apply for an affordable home.

Then: From 21st December 2017 – clients anywhere in the UK, and may not necessarily need to meet a housing need or a local connection, may apply for an affordable home.

South West Help to Buy have advised that they will not approve any client who does not meet the above criteria until the relevant time has lapsed.

Reservations

To reserve a plot a £1000 deposit is required, payable to Wombwell Homes, and a reservation form is to be completed which is held at the Brunel 2 Site Office in Lostwithiel.