Housing built by Housing Associations or Registered Providers, with subsidy from the Government. Because of the subsidy, the cost of renting or buying is lower and more affordable for people who could not otherwise afford to rent or buy in the area.
A document sent to people who have applied for a Help to Buy Equity Loan and have been approved.
When a property is purchased specifically to let/rent out to someone else.
When a court formally decides that a person owes money to another person (or organisation), a CCJ letter is sent to them explaining how much is to be paid, who to pay, how to pay and the payment deadline.
The law that protects personal details held by others in either hard copy of electronic files.
A record of home ownership showing the property address and the names of all the home owners. Until a property is sold or transferred to a new owner, the names on the deed will remain associated with the property and mortgage payments.
A failure to meet the legal obligations/conditions of a loan, i.e. missing monthly loan payments.
The amount of money put into buying a property, also known as capital.
A scheme where the Government lend up to 20% towards the cost of a new-build home, so that the buyer only needs a 5% deposit and 75% mortgage to make up the rest.
A scheme providing homes for rent and shared ownership to people aged 55 or over, with specific care requirements.
The umbrella term for all current home ownership schemes such as Equity Loan and Shared Ownership.
Organisations appointed by the Homes and Communities Agency as a one stop shop and point of contact for people looking for affordable homes to buy or rent in their area.
Previous name for Help to Buy Agents.
Government agency which provides funding for affordable housing in England.
A scheme, providing homes for rent and shared ownership to people with long term disabilities (Home Ownership for people with Long Term Disabilities).
Independent, not-for-profit organisation providing affordable housing options.
A mortgage where the buyer only ever pays back the mortgage interest each month, and not the money (capital) originally borrowed.
A scheme, providing rental properties for around 20% less than the typical open market rent value.
Another name for Extra Care.
A public sector employee who is considered to provide an essential service, such as Healthcare, Education, Emergency Services and Local Authority.
The organisation lending a mortgage or equity loan.
Some rural schemes require potential buyers to have family or other links to the local area to be eligible to purchase.
The rent charged by private landlords on the open market.
Loan to finance the purchase of a property, with a specific payment period and interest rate.
Free service set up by the Government, offering advice and information on personal money management.
A brand new property that has never been lived in.
A scheme, providing homes for rent and shared ownership to people aged 55 or over (Older People’s Shared Ownership).
A document that must be completed by people applying for a Help to Buy Equity Loan (along with a builder’s Reservation Form).
A scheme, providing rental properties for around 20% less than the typical open market rent value and the option of purchasing shares in the property in the future using the Shared Ownership scheme.
A mortgage where the buyer pays back the money (capital) borrowed as well as the accrued interest. The amount borrowed decreases through the term and by the end of the loan term, the mortgage has been fully paid.
An older Shared Ownership property, that has been previously occupied and has come back onto the market.
A document that must be completed by the builder as part of a Help to Buy Equity Loan application.
Schemes located in geographical areas outside of cities and towns, normally in villages.
Buying more shares in a property.
A scheme, providing the opportunity to purchase a proportion (share) of a property through a Housing Association or Registered Provider, and pay a subsidised rent on the part they do not own.
Government grant or gift of money given to a private organisation or charity to help it function.
The contract between a landlord and a tenant, specifying the terms and conditions of a rental agreement.
Someone who rents a property for a fixed amount of time.
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