Swindon Home Bid

Monday, 15-Sep-2014
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Low Cost Home Ownership


Low Cost Home Ownership is an affordable housing option for applicants who are not able to afford 100% home ownership on the open market. It is a part buy and part rent arrangement with options to purchase varying percentages of home ownership. The rent paid to the Housing Association for the un-purchased element reduces if greater shares are purchased.  No rent is paid if 100% ownership is achieved.

Applicants who currently own their home will not be considered unless they are experiencing a relationship breakdown.

To be considered you will need to have access to (or savings) an amount of money to cover the initial costs of buying a home. This amount varies but is likely to be a minimum of £2,500 to cover legal costs.

You must also be able to secure a mortgage or have savings to cover the minimum amount of share to be purchased with an initial deposit that can vary between 5 –20%

The various schemes available through the Homebuy agents are:

  • First Time Buyers' Initiative: This option is offered by private developers on selected new homes.
  • New Build Homebuy: This option offers brand new homes for sale on a part buy/part rent basis.
  • Intermediate Market Rent: This option offers new build homes to rent at 80% (or less) of typical market rents.
  • Social Homebuy: This option offers some Housing Associations or Local Authority tenants the opportunity to buy a share in their rented home.
  • HomeBuy Direct: This option offers an equity loan towards the purchase of a new build home on selected developments.
  • Resales: When any existing part buy/part rent home becomes available for resale, you can purchase the share from its current owner. The homes vary greatly in terms of age, size and type.
  • Rent to Homebuy: This option offers new build homes to rent for a pre-defined period of time with the expectation that you will buy a share of the property at the end of the rental period.
  • HOLD – Home Ownership for people with Long-term Disabilities: HOLD is a specially tailored option to assist people with long-term disabilities to purchase a share in a property. It is offered by a small number of Housing Associations, with limited availability.

For detailed information on the schemes click here 

Renting a home 

Eligibility for renting a home through HomeBuy can vary between different schemes.  For example, under the Rent to HomeBuy scheme, you will be assessed in the same way as if you were buying a share in the property but with no requirement for savings.  For discounted rent, you will need to demonstrate that you can afford to pay the monthly rent and service charge payments.

Registration of Interest Form

To register your interest, you need to fill in the Registration of Interest Form. This can be obtained from the Housing Department (see below). It is also available as a downloadable pdf file and online: Low Cost Home Ownership Registration of Interest Form   

To complete the Registration of Interest Form online click here

You will also need to register with Radian, the HomeBuy agent who can be contacted on 08456 041122 or email info@helptobuysouth.co.uk  
To complete the form online please visit their website click here 


Housing Needs Team
Housing Department
Swindon Borough Council
Civic Offices
Euclid Street

Harinder Mann
Shared Ownership Officer
Tel. 01793 464397
E-mail: hmann2@swindon.gov.uk



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