HOME BUY SCHEME

[jay09]

All,

Please is owning a house through the home buy scheme classed as assess to public funds. I am currently on Tier2 general and due for ILR in October 2012.

Please any information on this wouldbe highly appreciated as I am seriously considering for the 50% stake home buy scheme to help me ick start life as a landlord (half landlord if u like...haha)


Thanks

[John]

This has been dealt with quite a few times on this board.

The question to ask is ... who are you renting from, as regards the part of the property you do not own? Ordinarily that is a Housing Association, and renting from a Housing Association is not regarded as Public Funds, unless your Local Authority has nominated you to the Housing Association.

[jay09]

John,

Thanks for your response below. Actually i sent an equiry email to the Homebuy agent (Obit) and they confirmed that it is not classed as public funding. Hopefully this should help me get on the property ladder quiker than expected.




quote="John"]This has been dealt with quite a few times on this board.

The question to ask is ... who are you renting from, as regards the part of the property you do not own? Ordinarily that is a Housing Association, and renting from a Housing Association is not regarded as Public Funds, unless your Local Authority has nominated you to the Housing Association.[/quote]