The mortgage definition for Homebuy loan:
A homebuy loan is one which is used to buy a property under a homebuy scheme. Homebuy scheme Homebuy schemes are often run by housing associations looking to sell of their property and are a type of initiative aimed at encouraging home ownership amongst those people who may not ordinarily have the means to purchase their own home. Generally, you will have to obtain a mortgage for 75% of the property value, while the RSL (Registered Social Landlord) will front the rest of the money. The RSL will retain there share and if you sell the property they will keep the same proportion of the sale proceeds, including any gains that are made.
Homebuyers reportHomebuyers report
This type of survey is prepared for you and gives details of the basic state of repair of the property. It almost always provides a basic valuation as well. A surveyor will only inspect those areas of the property that are reasonably accessible or visible. They will then write a report on the property.
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