Home Buy Direct

Home Buy Direct was an affordable housing initiative set up by the Homes and Communities Agency but unlike Help to Buy it worked in direct partnership with the housebuilders.  It aimed to make new homes affordable by providing a split in the deposit contribution.

The scheme itself has been replaced by Help to Buy where a full percentage of the deposit now comes from the Homes and Communities Agency but the principal of having a Home Buy Direct valuation follows the same guidelines as a Help to Buy valuation and is redeemed directly through Target.HCA.

When you come to repay your Home Buy Direct whether through re-mortgage, straight repayment or through house sale, you will repay the HCA and the housebuilders equity loan at the same time.  This process will be administered by Target but unfortunately there is a fee to pay of £250.00.

As with the Help to Buy valuation the Home Buy Direct valuation is provided on the same basis of the requirements from Target.HCA and the market value has to be determined by an RICS regulated and registered valuer.

As noted previously the scheme itself has been replaced by Help to Buy but we still carry out a number of Home Buy Direct valuations throughout the UK.  The redemption process follows the exact same lines as Help to Buy and further advice on the process can be found on our website.  If you wish to instruct us to carry out a Home Buy Direct valuation then please request a valuation accordingly.