MyChoice Homebuy

Buying a home on the Open Market

This scheme offers financial assistance in the form of an ultra low cost Home Purchase Loan which can be used in conjunction with your maximum mortgage capability to help you purchase your desired property. This scheme lets you find the property on the ‘Open Market’ anywhere in England – you are not restricted to particular developments. However, you are still able to use the scheme to buy New Build properties as long as they are not part of any other affordable home ownership initiative.

The level of support offered through this product will vary depending on your personal circumstances. However, if you fall within the specified eligibility criteria and have a household income of between £20,000 and £60,000 per annum you may be able to receive funds of between 15% and 50% of the total purchase price of the property that you are considering. The level of assistance you receive may be affected by the size of your deposit.

The funds received through ‘My Choice HomeBuy’ have a charge of only 1.75% per annum*. This is increased annually to account for any inflationary increase that may have occurred during the previous 12 months. There is no additional loan repayment requirement for as long as you are resident in the property**.

* The annual 1.75% charge increases by Retail Price Index (RPI) + 1% on the equity loan provided. A full working example is available on request.

MyChoice HomeBuy Funding Allocated For 2008

Catalyst Housing Group would like to notify all interested individuals that due to the success of the MyChoice HomeBuy initiative all existing funding for Berkshire, Oxfordshire and Buckinghamshire and has now been allocated.

Additional MyChoice supported property purchase applications will ONLY be accepted from February 2009 onwards when additional funding will be made available.We would like to remind individuals that funding is allocated on a ‘first-come, first-serve’ basis and is subject to eligibility and terms and conditions.

If you are interested in applying for future MyChoice support please ensure that you have completed a Catalyst HomeBuy Registration Form. Download the Registration Form or call the contact centre on 0845 601 7729 for a copy.

Also available

For South Oxfordshire Residents

If you are resident in the South Oxfordshire District Council area you could be eligible for the South Oxfordshire District Council Equity Loan Scheme, with which you could obtain up to £50,000 to help you afford the home that you want.

Thames Valley Police Employees

If you are an employee of Thames Valley Police you may be able to take advantage of the Thames Valley Police Authority Equity Loan scheme please call for further details.

Don’t forget about Shared Ownership and other options

St. George housing developer logo

Catalyst Housing Group has entered into a partnership with leading private developer St George and as a result are able to support a number of eligible first time buyers to get on to the property ladder in the London area with a low-interest loan  of up to £90,000. The two developments concerned are:

For information or to arrange a viewing visit our news section.

As the appointed HomeBuy Agent for Berkshire, Buckinghamshire and Oxfordshire we are committed to keep you informed about additional options available to you.

You can also find out about other affordable home ownership options that are available under the HomeBuy initiative by browsing other areas of this website such as New Build HomeBuy (part-buy/part-rent), First Time Buyers’ Initiative (FTBI), Intermediate Rent and Social HomeBuy.

Additionally, you can register on our partner website which is located at www.homebuy.co.uk and conduct a property search for shared ownership properties in your preferred area.

There is also another equity loan product available from Places for People called Ownhome. Please go to www.placesforpeople.co.uk for further information.

Please contact our contact centre on 0845 601 7729 for further information or email homebuy@chg.org.uk.