HomeBuy is a range of low cost home ownership products for people who wish to buy a property but cannot afford to, or wish to rent a property but cannot afford market rent.

Broadland Housing Association is able to offer the Newbuild Homebuy product which is a Part Buy Part Rent scheme (formerly known as shared ownership). Broadland has homes available across Norfolk and north Suffolk which are newly built or, from time to time, has second hand homes (known as re sales).

Part Buy Part Rent enables you to buy a share in the home (generally the initial percentage of purchase is 50% of the current open market value) and you pay a reduced rent on the part you do not own.

You may increase your ownership in the future as you can afford to and in some cases you may even buy outright after 1 year of occupation.

You must be registered with Orbit First Step, the HomeBuy Agent for Norfolk and Suffolk (excluding Forest Heath and St Edmundsbury).

Orbit Homebuy Agents
Garden Court
Harry West Road
Binley Business Park
Binley
Coventry
CV3 2SU

www.orbithomebuyagents.co.uk

Tel. 03458 50 20 50 Fax. 024 7643 8034

Orbit Homebuy Agents is a Registered Social Landlord appointed by the Homes & Communities Agency, the national housing and regeneration agency for England, that provides a one stop shop service to people interested in any of the Homebuy schemes available across Norfolk and Suffolk . Orbit Homebuy Agents will process your Homebuy application to determine initial eligibility for the Homebuy schemes. If you are eligible for Homebuy, Orbit Homebuy Agents will keep your details on a central register and make them available to other providers that have Homebuy schemes available in the areas of Norfolk & Suffolk.

HomeBuy Products are designed for key workers and other priority groups such as local authority or housing association tenants, and those identified by regional housing boards as being in priority need.
Most people assisted under the HomeBuy programme are first time buyers; however, we can also help if you need to buy a property in a situation such as a relationship breakdown or where your household has outgrown existing arrangements.

The government defined priorities for assistance under HomeBuy are:

• social tenants, either Local Authority or Housing Association Tenants
• Those on social housing waiting lists
• Key workers

Other priority groups recommended by regional housing boards, these include medical secretaries, medical receptionists, teaching assistants, learning assistants, care workers employed by Local Authorities.

You have to buy a property suitable for your household's needs; also some properties may require you to have a local connection to the area where you are interested in purchasing a new home. Broadland Housing Association has the following homes available:

Part Buy Part Rent homes at Moorgate Business Park, Dereham (Norfolk Homes development)
One 2 bedroom house and Nine 3 bedroom houses, currently being constructed
Phased development with first three homes available in March 2010
Apply today.
Click here to view the development brochure.
Click here to view pricing.
Click here to view the front of the development.
Click here to view an artist's impression.
Click here to view an image of the development.

Part Buy Part Rent at Blue Sky Gardens, Bradwell (Norfolk Homes development)
Five 1 bedroom terraced houses with parking space currently being constructed
For further information of these properties please contact Norfolk Homes sales office at:
Blue Sky Gardens, Off Market Road, Bradwell, Great Yarmouth, NR31 9GA
Contact telephone no: 01493 603590 or email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
www.norfolkhomes.co.uk

Part Buy Part Rent Manor Reach, Sprowston (Norfolk Homes development)
Seventeen flats and three houses – Currently being constructed
For further information on these properties please contact Norfolk Homes sales office at:
Manor Reach, Off Norwich Road, Sprowston, Norwich, NR7 8UD
Contact telephone no: 01603 404931 or email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
www.norfolkhomes.co.uk

Details are also displayed at www.orbithomebuyagents.co.uk and www.rightmove.co.uk. Once you have registered with Orbit Homebuy Agent, you will automatically receive quarterly newsletters on available homes. Please be aware that your name will be removed from the Homebuy database after 6 months.

A bank or building society will be able to determine your mortgage eligibility and it is recommended that you seek independent financial advice prior to applying for a property to see how much you will be able to afford to borrow.
The Association will carry out an affordability check based on your borrowing and savings. Affordability approval cannot be granted if more than 50% of your household income is utilised to pay mortgage repayments, rental and service charge costs and any existing loans.

If you are struggling to obtain a mortgage offer due to the lender’s deposit requirements, please let click on the Intermediate Rent option below to find out about our Intermediate Rent option where you may be able to rent before your buy.

• Intermediate Rent

You will need to be able to cover the following expenses

• mortgage fees/repayments
• rental and service charges
• legal and valuation fees
• stamp duty (please seek independent legal advice)
• household bills – utility bills, council tax, contents insurance
• future repairs and maintenance to the property after expiry of the After Sales Care warranty.

It is your responsibility to repair and maintain your new home, including servicing your boiler annually. Our newbuild homes come with a guarantee that will cover defects in your home for the first year of occupation. This guarantee covers defects in the builder's workmanship only.

If you buy a Part Buy Part Rent property you can increase your ownership at a later stage and own the property outright if you want to. This is called 'stair-casing'. Many people who buy affordable homes eventually staircase to become 100% owners. You will need to notify the Association in writing of your intention to staircase.

You are required to notify Broadland Housing in writing of your wish to sell. The Association has to approve any new purchaser for affordability and housing need. An independent open market valuation is carried out at the time of sale. The percentage of the sale price you receive is equal to the percentage of the property you own at the time of sale.

• Part Buy Part Rent home at School Road, East Rudham. One two bedroom four person house currently being constructed. Available for occupation February 2011.