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Most people who apply for Homebuy are first time buyers on moderate incomes, but the scheme can also help those that need to buy a home in situations where their household has outgrown existing arrangements or where a home is needed following a relationship breakdown. Our broad aims as Homebuy agent are:
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To assist tenants of local authorities, associations and those nominated from waiting lists (who would otherwise have priority for socially rented housing), to buy a home of their own;
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To help meet the demand for social housing in areas of housing shortage by creating vacancies in social housing stock, reducing waiting lists and rehousing those in priority need;
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To ensure that there is an open and transparent basis for the acceptance and processing of all low cost home ownership applications across Herefordshire and Worcestershire.
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Demand for affordable housing is high, especially in areas where property prices are expensive. We allocate our homes and public funding responsibly and although we would like to help as many people as possible, we cannot help you if you do not meet the eligibility criteria.
Where applications exceed availability, we assess and select applicants according to housing need and affordability. Part of this assessment is your mortgagability and as guidance we base this upon three and a half times single salary, or three times joint salary. The link below provides a checklist to help you assess whether you are likely to be eligible for the scheme.
Eligibility Checklist
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