First Buy

Local HomeBuy Agents will assess and approve your eligibility for FirstBuy, and you need to be confirmed as eligible before you proceed with the buying process.

• Eligibility and prioritisation: Who can take part in the scheme?
  Homes through the FirstBuy scheme are only available to those who can’t afford to purchase an appropriate property on the open market. Your household income must be lower than £60,000 per year.
  if there are two or more prospective applicants who want to purchase the same property, priority will be determined by the the three priority groups. The first option will go to Priority group one, which is existing council or housing association tenants and serving personnel in the military. Priority group two is determined by the local authority in which the property is situated. Priority Group three is any other eligible applicant. If applicants are in the same priority group, priority will be given to who applied for the property first.
  
  To apply for a property through the FirstBuy scheme applicants should be looking to purchase a home for the very first time, however if you are seeking to purchase a home due to a relationship breakdown you may also be considered for the FirstBuy scheme.
  
  Qualifying criteria for all FirstBuy applicants
• Must be unable to afford to buy a suitable home in their local open market without assistance
• Must be show the ability to have access to funds to pay, if required, a deposit , legal fees, stamp duty and other costs of moving.
• Must be able to sustain the costs of home ownership for the long term. Usually, all applicants will be employed on a permanent contract of employment although there are some exceptions for key workers. You must be able to provide accounts for the last three years If you are self-employed.
• You must not already own a home or be named on a home mortgage. If an applicant has their name on a mortgage they will need to provide evidence that is in the process or has it has been removed.
• Your credit history must be good. If you have any rent arrears in the last 12 months, are in breach of your current tenancy agreement or have a bad credit history you will not be eligible for FirstBuy.
• You must take out a first mortgage with any of the qualifying lenders.