Getting started
Here’s how you apply once you’ve chosen your new-build home.
Apply through a partner housebuilder
Once you’ve chosen your new-build, let the housebuilder know you’d like to use Own Homes to help buy your home.
They’ll introduce you to our team and we’ll help you start your application.
Complete your application
Our application process is similar to applying for a mortgage. We check that you can afford the home you’ve chosen, both now and when you’re ready to buy it.
As part of your application, we’ll carry out a credit check and ask for documents to confirm your:
- Name and address.
- Household income.
- Regular financial commitments.
- Employment status.
- Right to rent (if buying a home in England).
Application
approved
Once approved, you’ll confirm your intention to buy by signing agreements that set out your tenancy and future purchase. These documents set out important details, including:
- Your monthly payments.
- How your payments build towards your deposit.
- What happens at each stage of the journey.
- The price you will pay for the home once you’ve saved your deposit.
- Your legal commitment to buying the home once your deposit target is reached.
Your home is reserved
Once the documents are signed and the application fee is paid, we’ll confirm the reservation with the housebuilder and construction of your home can begin.
A clear path to homeownership
What you should know
Here are some important conditions you need to be aware of. The full details will be set out in your agreements.
- You can only choose and reserve a home from one of our partner housebuilders.
- You must provide documents to verify the information in your application, for example your income, employment and financial commitments.
- The home must be your primary residence and the only property you own.
- You must have contents insurance with accidental damage throughout the tenancy period.
- Late payments may result in additional charges and may impact your credit rating.
- Failure to meet the conditions of your agreements could put your tenancy and purchase at risk.
- You cannot rent out your home to someone else.
- Once you have reached your deposit goal, you are expected to buy your home.
