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Affordable housing is good news for Bury residents
Thanks to Bury Council’s Affordable Housing Scheme many Bury residents and first time buyers have been able to afford to get their foot on the property ladder. Since January 2004, 249 new properties have been identified for affordable housing to help meet housing need in the Borough.
These properties are being built on nine different development sites across the borough where reservations can now be made. Prices start from as little as £52,000 for a 50 per cent share of a two bedroom apartment at Canalside in Radcliffe. (100% mortgages are available subject to status).
Other locations include, Chapelfield Park off Stand Lane, Woburn Park off Bury Road, Shorecliffe Rise off Radcliffe New Road, Valley Mill Lane off Alfred Street, Oakwood Park off Bury Road, Elton Cop off Walshaw Road, Bury Boot & Shoe Co off Brandlesholme Road and Olive Valley off Tottington Road.
There are four ways of obtaining a property within the scheme:
- Properties are offered for sale with at least 25 per cent discount off the current market value.
- Shared Equity allows individuals to buy a share of the property and no rent is paid on the property.
- Shared Ownership allows individuals to buy a share of a property and rent is payable on the unsold share. Further shares can be bought which means you may eventually own the property outright.
- Properties may be developed for rent and applicants with the most need will be selected from the council’s housing register.
Government run scheme helps locals to afford homes
A new Government led initiative is being run in partnership with Bury Council to help locals to buy their own homes by providing them with a dual-funded equity share loan of up to 25 per cent of the value of the property.
The scheme is called Expanded Open Market HomeBuy and is being run by specialist company Plumlife based in Manchester which provides housing for people who simply can’t afford to buy a home outright.
Once applicants have been accepted onto the scheme they can begin to search for a new home which must be within the Borough. Once they have found a house to buy they are given two equity loans, each worth up to a maximum of 12.5 per cent of the value of the new home. The first loan is interest free for the entire period of the mortgage and is provided by the Government. The second loan is interest free for the first five years and can be ‘bought out’ before the interest kicks in. There are only a few places available as funding is limited. Anyone interested should log on to www.plumlife.co.uk to register or call the Plumlife Sales Team on 0161 447 5050 or 0161 447 5151.to find out more about Expanded Open Market Homebuy.
Applicants must also enrol on the affordable housing register to be eligible for Expanded Open Market Homebuy in Bury. Please contact Jackie Summerscales, Affordable Housing Officer on 0161 253 7652 for further information Bury Council currently runs its own affordable housing scheme and residents on this are being introduced to the new Plumlife scheme as another way of getting a foot onto the property ladder. Anyone can join the council run scheme as long as they have lived in the Borough for at least six months, are unable to buy the property at its full market value, and have no rent arrears or antisocial behaviour orders with the council. Properties are available now on Bury’s own scheme.
More affordable housing now available in Bury
Bury Council’s Affordable Housing scheme launched in January 2004 has proved to be a resounding success with Bury residents.
The scheme is part of a Government initiative designed to give people on modest incomes better access to housing, as well as help first time buyers get their foot on the property ladder.
Since the start of the scheme 30 affordable properties have been completed so far and these are all occupied by Bury residents.
Whilst the first of the affordable properties in Bury are currently occupied, a further 70 properties are already under construction on six development sites throughout the Borough. A number of other sites have now received planning permission which will allow another 63 affordable homes to be built.
Councillor Sharon Briggs, Executive Member for Learning Skills, Housing and Employment said, “Providing a choice of quality housing is a key priority for Bury Council and we are delighted to be able to work in partnership to bring affordable housing to Bury and enable local people to remain in their community. The scheme has generated much interest offering residents the chance to own their own home.
A waiting list of interested applicants is managed by Bury Council. To apply to go on this list an application form needs to be completed. Whilst applicants do not have to be on the Council's Housing Register to apply for home ownership or shared equity, the suitability of applicants is dependent on income, savings and the amount of mortgage a bank or building society is prepared to lend and a number of other qualifying conditions.
There are three options within the scheme:
Option 1 - Home Ownership: Brand new properties are offered for sale at discounted prices - typically 25% less than the current market value.
Option 2 - Shared Equity: A share of the new property is bought. The remaining share is retained by the Housing Association and there is no rent payable.
Option 3 - Rental Properties: New properties are rented through Housing Associations at a lower rental than private landlords. Applicants with the most need for these properties only will be selected by Bury council from the council housing register.
Full details of the Affordable Housing Scheme and the properties currently available to reserve and purchase can be viewed online at www.bury.gov.uk/housing/privatehousing/affordablehousing
For more information about the Affordable Housing Scheme please contact Jackie Summerscales, Affordable Housing Officer on 0161 253 7652 or pick-up an application form from your local library.
First residents move into affordable accommodation
The first residents have moved into their new homes under the council's affordable housing scheme.
The Mayor of Bury, Councillor Steve Treadgold, presents a resident with the keys for his property at the Bellway development in Valley Mill Lane, off Alfred Street.
A chance to help shape the future of Bury's Pimhole Renewal Area
Although Bury Metro has formally declared clearance areas and is looking to demolish 133 properties to make way for new homes much has still to be decided. This includes who will be building the new homes, the number, style and size of them.
Now on Thursday 6 October, between 11am-7pm, local people will be able to call at the Jinnah Day Care Centre for a "drop-in" consultation event about the re-development of the clearance sites.
Bury Metro's Executive Member for Environment and Transport, Councillor John Byrne, said: "Since the declaration, development work has been progressing steadily to look at the best possible use for the cleared sites which have so far included the approval of an outline planning application for residential redevelopment. "This is a chance for every one to have their say and also for the Council to get local views, I hope as many people as possible will come along."
Some of the issues being raised at the "drop-in" include: What the Council is seeking to achieve and why, the development selection process, the key aspects of development - built form, materials, layout, size etc, overall design - type, layout, size, storeys, car parking, street scene etc, how residents can get involved.
For those who live in the clearance sites there will be the chance to speak to officers about re-housing needs. Also the Council's Affordable Housing Officer will be present to give information on how to buy affordable homes on the Alfred Street site. In addition resident members of the Pimhole Renewal Area Community Steering Group will also be attending. Everyone is welcome on the day and if further information is required before then the person to contact is Humera Mannan on 0161-253-6348.
First new affordable home built
A new bid to help people get on the property ladder has reached a landmark moment. The first homes built under Bury Council's affordable housing policy are now up for sale.
The dwellings are part of a Bellway development at Alfred Street in Bury. The one and two bedroom apartments and three bedroom houses will be offered for sale at a 30% discount. In order to qualify for one of the properties, would be owners need to meet a number of criteria.
Forum provides the key to affordable housing
Bury Council will be holding a forum to discuss affordable housing on Thursday 24 November 2005 in the Elizabethan Suite in Bury's Town Hall. This forum is designed to give local people an opportunity to learn more about the new initiative of Affordable Housing, and how it will benefit them.
In order to maximise the number of people able to attend this forum it is being delivered in two formats. The formal forum will be held from 1.30pm - 4.30pm and will include a number of presentations, an opportunity to voice an opinion and browse the stands and information from service providers.
From 5pm - 7.30pm, speakers from the forum and housing staff will be available to speak to individuals on a one-to-one basis at an informal "drop-in" event.
Both sessions are open to members of the public and those involved in private sector or social housing. The Strategic Housing Unit is keen for as many people as possible to contribute and discuss the housing issues facing the Borough.
