Moat delivers exceptional HomeBuy success 


Moat's sales and maerkting team

Nearly 1,500 people achieved their home ownership aspirations in 2009/10 with support from Moat – easily the largest number of people we have ever been able to help into affordable home ownership in a single year.

We supported nearly 150 more to rent in the intermediate market through the Discounted Rent scheme, and also saved 50 families from repossession through Mortgage Rescue.

These are exceptional results in a housing market that is still operating some way below its recent peak level and in economic circumstances which continue to be uncertain.

In total, Moat’s front line sales enquiries team handled over 44,000 enquiries through the year and managed over 15,000 applications to buy a home.

Marilyn DiCara, Moat’s director of sales, marketing and new business, says; “Our figures illustrate the enormous demand for affordable homes to buy across the South East and East of England.

“These people cannot afford to rent or buy in the private markets, but have little or no priority for scarce social rented housing. Last year only half the level of new housing needed in England was built. While this massive mismatch carries on, market housing will remain unaffordable for too many people and social housing will not be able to take up the strain.

“Given this context, it’s a serious concern that the volume of New Build HomeBuy properties being developed is now falling. This year fewer than 8,000 shared ownership homes are likely to be built in England compared with the 2006 to 2009 average of nearly 12,500 a year. Demand for HomeBuy continues to be sky high but because supply is down, we expect Moat’s sales this year to be considerably lower than 2009/10.

“We need the new government to maintain funding for shared ownership and shared equity to meet these housing needs. The intermediate market is a highly cost effective route for the new government to maintain a good level of affordable housing supply even in an era of public spending constraint.”

Moat’s sales in 2009/10 included 372 New Build HomeBuy properties, 364 HomeBuy Direct equity loans, 327 MyChoiceHomeBuy equity loans and 115 First Time Buyer’s Initiative loans. Another 118 families bought further shares in their New Build HomeBuy properties, and Moat resold 127 shared ownership homes.

Marilyn DiCara says; “Sales were strong across the board, though buyers are going for homes with two bedrooms or more wherever they can afford it.”

Moat is the government’s appointed HomeBuy Agent for Essex, Kent and Sussex.