Those who are interested in purchasing a property through Government’s Shared Equity Purchase Assistance Schemes are being invited along to one of three open days.
 
Staff from the Department of Health and Social Care’s Housing Team will be on hand to provide information and guidance between 12noon and 7pm on the following days:
 
•         Thursday 19 February 2015 at Ramsey Town Hall
•         Wednesday 25 February 2015 at Port St Mary Town Hall
•         Wednesday 18 March 2015 at Corrin Hall in Peel
 
Two shared equity schemes were introduced in July 2014 – First Home Fixed and First Home Choice – replacing the former House Purchase Assistance Scheme.  Providing that an applicant meets the relevant eligibility criteria, the Department can offer assistance up to a maximum of 30% of the value of the property.
 
Minister for Health and Social Care, Howard Quayle MHK, said: “Government is committed to supporting first time buyers and targets its resources at those most in need of assistance through developing affordable homes and offering financial assistance. 
 
“Buying your first house is exciting, but it can also be daunting.  I would encourage anyone considering the first rung on the property ladder to come along to one of the open days.  It’s an opportunity to meet face to face with staff from the DHSC’s Housing Team in a relaxed and informal environment.  There’ll be information on eligibility for financial assistance, how the two shared equity schemes work and details on the affordable homes currently being constructed.”
 
A number of first time buyer properties are currently being developed in Castletown, Colby, Port Erin, Peel, Ramsey and Douglas which have a price cap of ?160,000.  These will be available as ‘approved’ properties under the First Home Fixed Scheme to those on the Register of First Time Buyers.
 
Alternatively, First Home Choice caters for those looking to purchase a property for up to ?190,000 on the open market.
 
Anyone who is interested in the Shared Equity Purchase Assistance Schemes and has any queries should contact the Department of Health and Social Care’s Housing Team on 685955 or visit www.gov.im/firsttimebuyers.