Wealden District Council is working with Greymoor Homes to offer two brand new three bedroom houses available for Shared Ownership.
The scheme in Scots Pine Grove, Wadhurst, is due for handover this spring and the homes will be available to people who meet the affordability criteria for obtaining a mortgage on the share purchased.
Wealden council has appointed Eastbourne Property Shop as their sales agent, which will manage the purchase from reservation to completion of sale.
The scheme allows people to buy a home if they cannot afford all the deposit or mortgage payments for a home that meets their needs on the open market. They buy a share of the property – usually between 25% and 75% of the home’s full market value. The buyer then pays rent to the landlord – in this case Wealden District Council – for the share it owns.
Residents interested in the homes need to be over 18 years old, unable to afford to buy a home suitable for their needs on the open market and have sufficient savings for a mortgage deposit.
Priority will be given to those living and working in the local area of Wadhurst, then those living and working in the neighbouring parishes, followed by those living or working in Wealden district.
Councillor Ray Cade, Wealden’s portfolio holder for Housing, said, “The shared ownership scheme gives residents the opportunity to get on the property ladder, which with the current housing prices and mortgage rates is becoming harder to do.
“I would encourage anyone looking to buy a home, to look at the scheme and assess if it would be an option for them.”
For more information about buying a shared ownership home at Scots Pine Grove email firstname.lastname@example.org