Affordable housing

The Affordable Housing Scheme

The Affordable Housing Scheme is part of a Government initiative designed to allow individuals and families better access to housing and help first time buyers get a foot on the property ladder, by providing low cost housing. You do not have to be on the Council's Housing Waiting List to access these properties.

Since 1 January 2004 we placed a requirement on all property developers to provide 25% of their brand new homes on sites where they are building 15 or more properties for affordable housing, to help meet housing need in the Borough.

How does it work?

There are three ways to gain access to affordable housing and different schemes may operate on different sites. You do not have to be on the Council's Housing Waiting List for any of these properties.

1. Home Ownership/Discount Market Housing -
   Properties are offered for sale on selected sites with a discount off the full market value. For example, a £100,000 house with a 25% discount, will be offered to qualifying applicants on our waiting list for £75,000. This is not shared ownership and even though you have been given a discount, you own the whole property. However, there is a restriction on the title, which means that when you want to sell the property, you must sell it on to the next person with the same level of discount.
2. Intermediate Rental -
   Allows you to rent a property at 80% of the full market rent  e.g if the full market rent is £500 per month, applicants on the Affordable Housing Waiting List will pay £400 per month. Please note, this is not Council Housing and if you wish to apply for Council Housing follow the link in related pages on the right. 
3. Shared Ownership/Shared Equity -
   Allows you to buy a share of a property on selected sites and pay rent to the landlord/housing association on the remaining share. Additional shares can be purchased and you may own up to 100% of the property. Shared Equity allows you to buy a share of a property on selected sites and the landlord/housing association will retain the remaining share in perpetuity. Rent may be charged on the unsold share.

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