Unfortunately we are currently unable to accept any new applications as our scheme is in the process of been assessed. If you are interested in applying for a Homebuy Plus Equity Loan we hope to be able to provide you with more information in December.
Golden Triangle Partnership - homebuy plus scheme
Homebuy Plus is an affordable housing initiative funded jointly by the Golden Triangle Partnership (Leeds City Council, Harrogate Borough Council and the City of York Council) and Northern Counties Housing Association. The scheme can help you with the purchase of a home you buy outright on the open market, in the Golden Triangle area.
What is Homebuy Plus?
You can buy the home of your choice - old or new in the districts of Harrogate, York and the following areas in north Leeds, Thorner/Scarcroft, Barwick, Aberford, Harewood, Bardsey/East Keswick, Shadwell, Otley, Pool in Wharfedale, Arthington, Wetherby, Collingham/Linton, Bramham, Garforth, Bramhope, Walton, Clifford, Boston Spa andThorp Arch
- You will pay between 55% - 65% of the market value of the property through a mortgage from a qualified lender (such as a bank or building society) and/or savings
- You will receive an equity loan for the remaining 35-45%.
- You must repay the equity loan if and when you decide to sell
- If you never sell, there is nothing to repay.
Can I apply?
To qualify for the scheme,
- You must be an existing tenant of Leeds City Council, Harrogate Borough Council, the City of York Council or a housing association in one of these areas.
- You can also apply if you are registered on one of the Council’s waiting list or low cost home ownership list
- You will not have to pay any interest or rent on the equity loan
- You may repay the equity loan at any time but it must be repaid if you sell your home.
- Northern Counties Housing Association will confirm if you qualify for the scheme. They will also need to look at your finances.
- You will not qualify if you can afford to buy without the help of a Homebuy Plus equity loan.
If you buy your home with the help of an equity loan and sell it, how much you have to pay back will be based on how much you are likely to receive when you sell it . For example if you bought your home for £150,000 with an equity loan of 45% (£67,500) and it is valued a £175,000 you will still have to pay back 45% of its value - in this case that would be £78,750.
You must also meet one of the local connection criteria:
- Have lived in the Golden Triangle area for at least 12 months; or
- Have worked in the Golden Triangle area for least 12 months, or
- Have close family members who meet the residency requirements, or;
- Have children who attend school in the area or who have been offered a place in a school in the area.
Unfortunately there is only a set amount of funding for equity loans which means that there is a limited number of people we can help.
For further information and to receive an application form – please contact Northern Counties Housing Association on 0845 6037604.
HomeBuy agents
An alternative to Homebuy Plus is HomeBuy. HomeBuy agents provide a one-stop shop where you can find information about low cost home ownership schemes in Yorkshire and Humberside.
HomeBuy agents will register your interest, assess your eligibility and provide details of schemes in your area. They work closely with the housing department in your local council and with housing associations who are developing new homes in your area.
To find out more you can follow the links from this page and register with your local HomeBuy agent for up-to-the-minute information about what is available.
-
West Yorkshire
and South Yorkshire
Yorkshire Housing Association: 0113 243 6893
-
North Yorkshire and Humberside
Joseph Rowntree Housing Trust: 0800 633 5670
What is The Golden Triangle?
The Golden Triangle Partnership is a partnership between Leeds City Council, Harrogate Borough Council and City of York Council. It is unique in that it crosses two regions – North and West Yorkshire. When we set up the Partnership in 2003 our membership only included housing and planning staff from the three councils. Since then we have extended it to include three housing association partners; Home Housing; Yorkshire Housing and Accent Housing.
The Housing Corporation and the Government Office for Yorkshire and the Humber provide an advisory role to the partnership.