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English Partnerships: English partnerships is the national agency helping the Government to support high quality sustainable growth in England. It is a key delivery body for the Government's Sustainable Communities programme which addresses affordable housing FTBI, housing shortages and homes for key workers.
Equity loan: A loan provided to a first time buyer which is linked to a percentage share of the property. When the loan is repaid it is based on the property value at the time the property is sold. It applies to the FTBI scheme and the share of the property buyers do not already own.

First Time Buyers Initiative (FTBI): First Time Buyers Initiative (FTBI) is an English Partnerships sponsored scheme in which developers and some housing associations will be selling a share of at least 50% in brand new home with an equity loan providing the remainder. It is targeted at key workers and other priority first time buyers. The minimum equity loan given is £25,001.
Fees: For the first three years of FTBI home ownership there is nothing to pay the amount which the Government contributed. After three years buyers will pay a fee to the Government (through the National HomeBuy Agent) of one per cent per annum on the amount Government funded. This fee will increase each year by a fixed percentage reaching a maximum of three per cent after five years in the property.

HomeBuy Agent: The HomeBuy Agent is the local regional association that centrally processes the initial application for the intermediate housing and processes the equity loan. the local HomeBuy Agent is only involved in the initial sale and will not be involved in any post sales work.
Housing Options plus (HOP): Housing Options plus is the name of the National HomeBuy Agent. HOP is responsible for all post sales work.

National HomeBuy Agent: The National HomeBuy Agent's role is to administer the payment of fees by buyers on the Governement's contribution after three years of ownership and; to recover the Government's entitlement in the sales of the FTBI homes as owners sell their home or staircase.

Remortgaging: The process by which an applicant changes their mortgage to another product or lender. You must contact the National HomeBuy Agent and inform them if you wish to do this.
Repayment: The process of redeeming or repaying this loan is called a Repayment. You can repay your equity loan, and increase your ownership to 100%, at any time three months after the date you originally bought your home.
RICS Valuation: An assessment of the current market value of a property carried out by a surveyor that has a qualification from the Royal Institute of Chartered Surveyors.

Staircasing: Staircasing is increasing the share of the home that you own by making repayments through the National HomeBuy Agent. You can staircase at any point three months after you originally bought you home. You are able to decide the size of the additional share that you wish to buy it must be at least a minimum of 10% of your home's prevailing market value.