What is Homebuy Plus?

Homebuy Plus is an affordable housing initiative funded jointly by the Golden Triangle Partnership (City of York Council, Leeds City Council and Harrogate Borough Council) and Northern Counties Housing Association. 

This is not the same scheme as Homebuy, but is based on similar principles.

The scheme can assist you with the purchase of a home you buy outright on the open market, in the Golden Triangle area. 

You can buy the home of your choice, old or new in the Districts of Harrogate, York and certain areas of Leeds:

• 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.

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.
• 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.
• 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.

If you buy your home with the help of an equity loan and later sell it, the amount you will have to pay back will be based on how much it is sold for.  

For example if you bought your home for £150,000 with an equity loan of 45% (£67,500) and it is valued at £170,000, you would still have to pay back 45% of this figure - in this case that would be £76,500.

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.

The scheme will be available to anyone who meets the local connection critieria. 

Unfortunately, there is only a set amount of funding, which means that there is a limited number of people we can help.

For further information and to receive an application form please contact Guinness Northern Counties on 0845 6037604.