Orbit is delighted to announce that our contract as the Help to Buy agent for the East and West Midlands has been extended by the Homes and Communities Agency.
Orbit has been delivering the Help to Buy Midlands service since 2014 and the contract extension means it will continue until 31st March 2019.
Help to Buy Midlands is the largest and busiest of the seven government appointed agents in England who administer Help to Buy products designed to make it more affordable for people to get on the housing ladder.
Margaret Snook, Head of Help to Buy Midlands, said:
“It’s great news that our contract to deliver Help to Buy across the Midlands has been extended and we look forward to helping many more house hunters step onto and up the property ladder with Help to Buy.
As the largest Help to Buy agent, we have already helped thousands of people to purchase their own home and we have worked extremely hard to make sure we give our customers the means to buy their dream homes as quickly and easily as possible.”
In its role as the Help to Buy Agent for the Midlands, Orbit administers applications for the Help to Buy Equity Loan and Shared Ownership across the following locations: Coventry & Warwickshire; Herefordshire & Worcestershire; Staffordshire & Shropshire; Derbyshire & Nottinghamshire; Rutland & Leicestershire; Northamptonshire & Lincolnshire; Birmingham, Solihull & the Black Country.
The Help to Buy Equity Loan allows buyers to purchase a new home worth up to £600,000 with just a 5% deposit and a 75% mortgage. The remaining 20% is covered by an equity loan from the government, which is interest free for the first five years.
Shared Ownership provides aspiring home owners, who can’t afford to buy a house on the open market, the chance to purchase a share in a home. Run through Housing Associations, the scheme allows individuals to buy between 25% and 75% of a property and pay subsided rent on the remaining share.