Frequently Asked Questions
Am I eligible?
To confirm your eligibility you will need to register with your local HomeBuy agent. First Time Buyers with a household income of less than £60,000 who are unable to purchase a home in the area they live or work without assistance normally qualify. Priority will be given to local authority or housing association tenants, key workers and those deemed to be in housing need.
There are various HomeBuy agents in England. Which one do I apply to?
You will need to register with the HomeBuy agent which covers the area where you wish to live. You can find out who this is by clicking on the following link.
http://www.homesandcommunities.co.uk/homebuy_agents
I have seen a property I like. What should I do next?
When you have found a property you would like to purchase, you can register your interest on our website. Our sales officer can arrange a viewing for you and answer all your questions. If you wish to purchase, we shall then assess your affordability and run a credit check before we approve you to purchase.
Which scheme is for me?
Please talk to us about your aspirations and we can guide you towards the best option for you. For instance, if you do not have the necessary deposit required by a mortgage lender, it may be possible to arrange for you to rent your chosen property for a period of up to 5 years at an intermediate rent, whilst you save the deposit to purchase.
Some new homes are being built – can you send me details?
If the properties are not listed on our website, then we have not yet been informed of this development or the properties may be for sale through a different housing association. We recommend you register with us, and we shall write to you when new properties, which may be of interest, are offered for sale through Guinness Homes.
I have registered my email address to enable me to apply online. However I have not received my activation email.
Because our systems are automated, some email accounts place this in your ‘junk’ or ‘spam’ folder. Please check there or use a different email address.
I am a current home owner. Can I qualify for these schemes?
There would need to be a valid reason why your home is no longer suitable. You would need to have a sale agreed for your current home before you would be approved to purchase a Shared Ownership property.
Do I need to register with a Local Authority?
In some cases you may need to be registered with your local authority, particularly if you need to demonstrate that you have a local connection with a given area. We shall always make this clear to you, but please call us on 0844 800 2020 if you are in any doubt.
I have debts over £15,000. Am I eligible?
We feel that applicants with debts over £15,000 will struggle to meet the monthly repayments associated with owning a home.
My household income is over £60,000. Am I eligible?
Applicants with household income over £60,000 are unable to apply for low cost home ownership.
I haven’t got any savings, can I still purchase?
You will need to be able to cover the costs of purchasing a property, such as legal fees, mortgage costs, valuation and stamp duty. We consider that £3000 would be a reasonable amount to set aside.
If you do not have any savings for a deposit, please contact us to see whether we might be able to offer you the Rent to Buy scheme. This will enable you to save the deposit for a mortgage whilst renting your chosen property at a lower than market rent.
How do I know if I can get a mortgage?
We recommend that you seek independent financial advice from an adviser who is familiar with the Shared Ownership scheme. We have a panel of recommended advisers who will be able to give you some idea of how much you can borrow and what this would cost. View our Financial Advice pages for more information.
How can I work out how much I can afford to pay for my monthly housing costs?
If you are considering purchasing a Shared Ownership property, a Rent to Buy property or your own home through Home Purchase, but are unsure of how you will afford it. We would recommend you contact one of our Independent Financial Advisors click here and they will advise you on the amount you can afford to borrow.
You can also use our simple mortgage calculator to work out the monthly costs of a mortgage click here. The calculator is provided for guidance only. Guinness Homes is not authorised to provide financial advice and this mortgage payment calculator does not provide all of the information you will need to choose a mortgage.
Your total monthly housing costs will be your mortgage plus the rent for the share you do not own, plus any service charge.
We would also recommend you calculate how much each month you need to spend on you monthly living costs including; utility bills, food, clothing, holidays, travel, going out, etc. This will give you a budget plan for the month of all your outgoings.
Can I apply by telephone?
We can currently accept applications online or by post. If you need assistance in completing your application, please contact us.
Can I contact you?
Of course. Please contact us.
