Pay Apply Report

Affordable housing options

Affordable housing options in Eden are available to anyone who is registered on the Cumbria Choice. For details of how to register see the housing association register.


HomeBuy is a government initiative to help people in housing need to purchase a home of their own. There are five types of HomeBuy product to choose from:

  • New Build HomeBuy - you share ownership of your home with a housing association, paying a mortgage on the part you own plus affordable rent on the portion you don't own

  • Open Market HomeBuy - you take out a conventional mortgage to fund part of your purchase and a low-interest equity loan to cover the rest

  • Social HomeBuy - housing association and local authority tenants buy their home on a shared ownership basis or outright, with a discount on the share being purchased

  • HomeBuy Direct - you buy a selected new built HomeBuy property with assistance of an equity loan.

  • Rent to HomeBuy - you pay a reduced rent on a new build home for up to five years, to help you save for a deposit and you then purchase property.

How to join the First Buy Scheme

First buy is where the Government and the Developer provide a loan (interest free for 5 years) to cover a proportion of the value of the property. Under the First Buy Scheme this proportion is 20% of the purchase price. The Buyer will be expected to contribute a minimum cash deposit of just 5% themselves.

The First buy arrangement will reduce the size of the mortgage required by the Buyer to 75% making it easier to secure funding for more information see Discounted Market Homes.

You can buy a discounted home on the open market on new housing developments of a certain size. Developers are asked by us to provide an element of affordable housing. Most new developments will now include a mix of housing including housing association homes to rent and homes to buy. In the future developers may also choose to develop new homes to rent privately at below market rents. Affordable homes for sale can be offered to local people who cannot afford to buy on the open market.

For more information:

Selling on your Affordable Home

We are trying to ensure that some homes remain affordable for as long as possible. This means, if you want to sell your home and move you will be restricted in who you can sell it to and at what price. Although you won't be able to sell it at full market value, you will be able to benefit from any growth in the home's value.

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