New Build HomeBuy

New Build HomeBuy works by us making homes available to own on a part buy, part rent basis so that you can get onto the property ladder and to make your monthly housing costs manageable:

* You buy between 25% and 75% of the total value of a newly built MHO property (depending on what you can afford) and pay MHO a discounted rent on the remainder

* You buy what you can afford now with the option of buying additional shares in your home. You can staircase up to 100% where you will own your home outright and be rent-free, or you can remain as you are.

Here are five good reasons to buy a home with New Build HomeBuy:

It's chain free

Your move won't be affected by 20 other people's Friday afternoon when you want to pick up your keys! Our expert Sales Officers are on hand to guide you through the buying process step-by-step.

Just move in

It's new, you don't need to tear down flock wallpaper, rip out the bathroom or re-point the brickwork! Just move your things in and enjoy your new space.

Peace of Mind

As well as being affordable, your new home will come with a 10 year guarantee, meaning you don't have to worry about what could happen next!

Energy efficient

Because your new home will be built to the latest specification, you'll save money on utility bills - making your money work smarter.

For the journey

MHO are with you all the way, which means we don't just hand you the keys and walk away - our housing management teams are there to offer you support and advice so you always have somewhere to go if you need a helping hand.

Are you eligible?

Priority to buy New Build HomeBuy properties is normally given to:

• Local council residents
• Housing association resident
• Local housing waiting list applicants.

 Anyone who can demonstrate a housing need, such as those:

• Sharing a home with parents or other relatives
• Renting privately, and unable to buy their own home
• On a low or moderate income and not able to buy their own home outright on the open market
• Leaving a matrimonial home through divorce and not able to afford to buy another home
• Unable to afford their own home within a reasonable travelling distance from their place of work
• People that are homeless or living in temporary accommodation

Or any other first time buyer earning less than £60,000 who would otherwise be priced out of home ownership.

Use this website to view homes available in London the Midlands and the home counties.

Test your eligibility here »

Typical ownership costs

• Your mortgage repayment to the lender

• Your rent, which you pay to us (for the part of the property you are not buying)

• A management charge

• Building Insurance

• If you buy a flat, you will also pay a service charge for the maintenance and upkeep of the communal parts.

Will I need a deposit?

For New Build HomeBuy you may or may not require a deposit depending on deals available from mortgage lenders at the time you buy, ask your sales officer or consult your IFA should you be in any doubt. You must also have savings to cover the cost of stamp duty (if applicable), legal fees and other costs involved in buying a home (such as removals, storage etc...). For Open Market HomeBuy products, you will usually need a deposit of 5% but, again, any deposit requirement will depend upon mortgage deals available from mortgage lenders at the time you buy.