Affordable housing - current schemes
Details of current affordable housing schemes are listed here.
You can apply for any of the following schemes although some of the properties are not ready yet.
High Brook Croft, Yarm
Tees Valley Housing has a 2 bed apartment on the High Brook Croft development (the Meadowings) which is available on a 50% shared ownership basis. You would purchase 50% of the property with a deposit and mortgage and Tees Valley would retain ownership of the remaining 50% share. Rent would be payable on the share you do not own and a service charge is also applicable. You would require a deposit of at least 5% fo the share you are buying (depending on the mortgage lender). The costs are as follows:
Full purchase price: £160,000
Price for 50% share: £80,000
Rent on remaining 50% share: £183 per month
Service charge: £96.92 per month
Whitewater Glade, Persimmon Homes
Two bedroom houses and flats are available with a 15% discount off the market value at Whitewater Glade in Stockton.
Persimmon will then offer their shared equity scheme on the discounted properties so you only pay 85% of the discounted price and receive a 15% equity loan from Persimmon.
A minimum of 5% deposit (of the discounted price) is generally required (subject to mortgage availability).
Hazeldene, Persimmon Homes
Two bedroom houses available with a 15% discount off the market value at Hazeldene, Ingleby Barwick.
Persimmon will then offer their shared equity scheme on the discounted properties so you only pay 85% of the discounted price and receive a 15% equity loan from Persimmon.
Properties are either £114,750 or £110,450 (Discounted price)
A minimum of 5% deposit (of the discounted price) is generally required (subject to mortgage availability).
Pottery Wharf, Bett Homes
There will be one 2 bedroom property and two 3 bedroom properties available in the summer of 2012.
Bett Homes will offer their shared equity scheme on these properties. You would own the property outright but cover 75% of the purchase price.
This is generally with 5% deposit (subject to mortgage availability) and 70% mortgage
Find out more about this scheme.
Properties are subject to availability and priority will be given based on set criteria and ultimately the length of time applicants have been on the Register. Please see the Guide to Affordable Homeownership on the application page for more information or to apply for the affordable housing schemes listed.
