The following home ownership schemes exist and are designed to help people on modest incomes who cannot afford to buy a home without help but who can meet the long-term financial commitment of home ownership:
Key Worker Living
Helping key workers in London, the South East and East of England to buy a home, upgrade to a family home or rent a home at an affordable price. Apply to your local HomeBuy agent, the HomeBuy agents for the East of England and the local authority areas they cover are listed below:
BPHA
South Cambridgeshire, Cambridge, St. Edmundsbury, Forest Heath, East Cambridgeshire, Huntingdonshire, Fenland, Peterborough, Luton, South Bedfordshire, Mid Bedfordshire and Bedford.
Moat
Maldon, Colchester, Tendring, Braintree, Rochford, Southend‑on‑Sea, Basildon, Thurrock, Uttlesford, Chelmsford, Brentwood, Epping Forest,Harlow and Castle Point.
Aldwyck
Broxbourne, Welwyn Hatfield, St. Albans, Hertsmere, Three Rivers,Dacorum, East Hertfordshire, Stevenage, North Hertfordshire and Watford.
Orbit
Babergh, Suffolk Coastal, Mid Suffolk, South Norfolk, Norwich, Broadland, King's Lynn & West Norfolk, Great Yarmouth and Waveney.
Right to Buy
The scheme that allows tenants to buy their council homes at a price lower than its full market value.
Right to Acquire
Enables some housing association tenants to buy their rented home at a discount. Only applies to properties built or acquired by housing associations with public funds from 1 April 1997 onwards.
Voluntary Purchase Grant Scheme
This scheme may allow some housing association tenants, not eligible for the Right to Acquire, to buy their rented home at a discount. The scheme is entirely voluntary for housing associations who opt into it.
Homebuy
Offers qualifying applicants an equity loan to meet 25% of the cost of either buying a home on the open market, or one newly built by a housing association. Priority is given to existing council or housing association tenants, and those on waiting lists.
Conventional Shared Ownership
Enables applicants to buy a share of a property built, purchased or renovated by a housing association and pay rent to them on the remaining share. Priority is given to existing council or housing association tenants, and those on waiting lists.
Cash Incentive Scheme
Some local authorities run a cash incentive scheme where a grant is paid to a council tenant wishing to buy a home in the private sector. This is done to release the vacated accommodation for letting by those in housing need.
