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Low Cost Home Ownership


The New Low Cost Home-Ownership (LCHO) housing register is now open!

Homesearch is pleased to announce that the Low Cost Homeownership application is now open to register.

Before you begin, please read the attached leaflet here, which explains what you need to do, next steps and Frequently Asked Questions.

**Please note, if you are already registered for a social property (a property to rent), all you need to do is 'Sign in' and complete a change of circumstances form. Please make sure you complete a 'Buying a Home' or if you need to notify us of a change of circumstances e.g. change of address, household members or finances, then complete 'Both Renting and Buying a Home'


Posted 08/06/2022

Monmouthshire County Council works closely with local housing associations and private developers to create affordable homes for those in housing need in Monmouthshire. Our aim is to develop high quality housing for those that want to buy a home, but are priced out of buying one on the open market.

There are many types of Low Cost Home Ownership schemes and properties available. To apply, you must have a local connection to Monmouthshire, and in some cases, you may need to have a 'Rural Local Connection'.

Homebuy – Wales:

  • you will normally need to contribute between 50%-70% of the purchase price of a home through a mortgage and/or personal savings
  • you will need to arrange a mortgage from an approved lender
  • you will need to make the agreed payments to your mortgage lender, there are no monthly payments to the housing association
  • you must repay the equity loan when you sell the home at the equivalent percentage value of your home at the time you sell it
  • you can repay the loan before you sell you home in which case you will repay based on the value of your home at that time 

To be eligible prospective purchasers must have a gross household income that would allow you to purchase the percentage of property advertised on the website. All schemes can be found through:

MHA Homebuy

Pobl Living

Melin Homes Low Cost Schemes

Monmouthshire County Council also have properties advertised through this scheme here

King's Wood Gate, Monmouth

Rent to Own 

Rent to Own is another route to Low Cost Home Ownership.

Rent to Own Wales is a government backed scheme intended to help working people who are unable to buy a home on the open market as they cannot raise a sufficient deposit.
The scheme enables you to rent a property from a housing association, paying a market rent, with a view to buying it in the next few years.

Alongside the tenancy you’ll receive an option agreement allowing you to buy the property from the end of year 2 until the end of year 5.

When you exercise this purchase option you’ll receive 25% of all rent paid towards your deposit along with 50% of any uplift in the property’s value, if there has been an increase.
If you do not purchase the property it is considered that you have held a tenancy at open market rates. No rent or appreciation will be reimbursed. Only select properties will be available for rent to own and this will be clearly stated on the property advert.


Further Information

For more information on schemes that are available throughout Wales or to find out what scheme suits you, please click here

Our LCHO video guide is here


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