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Homebuy & NewBuy 

Part exchange available

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Making moving easier

  • We'll pay for an independent valuation
  • We'll pay your estate agent fees
  • We'll co-ordinate your move

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What is homebuy?

Homebuy from Briery Homes Q&A

Q. What is Homebuy?

A. Homebuy is a scheme which makes it possible for a buyer to move into their new home by paying substantially less than the normal price, and with a deposit of just 5%. 

Q. How much can I save?

A. Homebuy offers a saving of almost £30,000 on a 3-bedroom design, almost £25,000 on a 2-bedroom design, and enables purchasers to secure their new home with a low 5% deposit.

Q. How does it work?

A. The purchaser effectively pays just 80% of the purchase price; 75% of the price is met by a building society mortgage, and 5% deposit is paid by the purchaser.  The householder can later pay the remaining 20% of the home’s value to Briery Homes at a time to suit themselves and their financial situation. 

Q. Do I own the house when I use Homebuy?

A. Yes you own the house but it is what’s called shared equity, which means Briery Homes effectively retains a claim on 20% of the property value.  This 20% share of the value can be purchased at an agreed price in the future.

Q. What happens if I want to sell the house?

A. Selling the house is not a problem - you simply pay Briery Homes the agreed settlement amount to cover their share of the property value.

Q. Is there a problem getting a mortgage on the basis of shared equity?

A. No there is not a problem.  It is an accepted method of purchasing a house and Briery Homes can help you to source a mortgage at a competitive interest rate.

Q. Why is the Homebuy scheme available for a limited time only?

A. The scheme is available for a limited period on these properties.  It may be extended but to be sure of getting the best deal you must contact site for further information.

Q. Is the Homebuy scheme available only to first time buyers?

A. No the Homebuy scheme is available to anyone wishing to buy a 2-bedroom Rothay Home or 3-bedroom Lowther home at The Oaks in Longtown, subject to availability and their financial status.

Q. How can I get more information on Briery Homes Homebuy?

A. Visit The Oaks in Longtown which is open Thursday to Monday between 11.00am and 5.00pm, log onto the website www.theoakslongtown.co.uk for directions or further details, call the sales executive Diane on 01228 791755, or email tellmemore@brieryhomes.co.uk