First Time Buyers

Introduction

The Department makes available financial assistance to first time buyers under the House Purchase Assistance Scheme 2007. Persons wishing to apply for assistance under the Scheme are required to complete an application form, which can be downloaded from the table at the bottom of the page. The rear of the application includes an Explanatory Leaflet, which provides guidance on the different aspects of the Scheme including the levels of assistance available and eligibility criteria.

Thomas Keig Road, Reayrt y Sheear, (Johnny Watterson's Lane)

Register of First Time Buyers

The Department maintains a Register of First Time Buyers for persons interested in purchasing a home for the first time. The purpose of the Register is to determine the demand for first time buyer housing and the preferred location for new dwellings. Only those who are on the Register of First Time Buyers will be considered for new "approved" first time buyer dwellings, which are on approved developments undertaken by the Department or private developers. It is necessary to complete an application form if you wish to be placed on the Register. Download an application form from the table at the bottom of the page.

Please note that you do not have to be on the Register to be eligible for grant assistance towards open market properties, only "approved" dwellings. However, qualification for a grant towards open market properties is subject to certain criteria. For more information, see the section on Explanatory Leaflet, below.

Explanatory Leaflet

The application form for assistance under the House Purchase Assistance Scheme 2007 is available in the downloadable table at the bottom of the page. An Explanatory Leaflet is included at the rear of the application form, and provides guidance on the different aspects of the Scheme and the Register of First Time Buyers. The Leaflet covers the following frequently asked questions:-

Who is eligible for assistance under the Scheme?
Which properties are eligible?
What is approved income?
What kind of financial assistance is available under the Scheme?
How does a Top-Up loan work?
Are there any other conditions of assistance?
What happens if you wish to sell, move to a larger dwelling or repay the loan or grant? (this section includes information on Second-Time Buyers).

The Leaflet also includes examples of how grant and Top-Up loan assistance works for a range of selling prices and incomes.

Applicants Aged 45 and Over

It is possible for persons aged 45 years and over to apply for financial assistance towards purchasing a first time buyer property. It is necessary to complete an application form and this can be downloaded from the table at the bottom of this page. The form includes the following:- an explanation of all aspects of the Scheme including the levels of assistance available and qualification criteria; and a form which applicants are required to complete to allow Income Tax Division to verify their Income tax status.

First Time Buyer Newsletter

The Department publishes a newsletter to provide updates regarding new, and prospective, developments including details of the location and nature of the properties. There is also a section on Frequently Asked Questions. The latest newsletters are available to view or download from the table at the bottom of this page.

Fenella Court, Willaston