Door Opens on Affordable Homes

Twenty new homes in south Warwickshire are about to open their doors to families on a housing waiting list. Stratford-on-Avon District Council and one of its partner housing associations, Bromford Carinthia, are providing the two and three bedroom houses on a new David Wilsons development in Tilemans Lane, Shipston-on-Stour.

The houses are for sale at affordable prices under a system known as 'shared ownership', through which householders buy a 50% share in a long lease. This is funded with a conventional mortgage and buyers also pay a fixed rent on the remaining unsold share, but have the option of buying further shares so that ultimately they could buy their homes outright.

"We are taking practical steps to tackle the widespread shortage of adequate affordable housing in the towns and villages of south Warwickshire," said Cllr Tony Dixon, the council's portfolio holder for health and housing.

"A particular feature of this scheme is that any money received from sales of further shares in a property is ploughed back to provide more affordable homes. All the homes are being sold to families on the council's housing waiting list and the popularity of the scheme is encouraging.

"Shared ownership is a possible solution to people's housing needs and the success of this scheme shows that, despite the vast increases in house prices in recent years, affordable home ownership is still an option for first time buyers."

This year, the district council and its partner housing associations expect to provide close to 200 new affordable homes - the highest total for at least fifteen years.

Alan Bradley, the shared ownership sales manager at Bromford Carinthia added: "Tilemans Lane has proved a very successful scheme, as we have been able to help many households on the Council's waiting list whilst meeting our obligation to sell the houses only to people with local connections."

Other similar schemes are also being built in Bidford-on-Avon and Stratford-upon-Avon. To be eligible, people need to be unable to afford to buy a suitable home on the open market and must be registered on the council's housing waiting list. In most cases they must also have a connection with the town or village where they want to buy a home.

Further information about the housing waiting list for shared ownership is available from the council on 01789 260861. For further information about the Tilemans Lane scheme, please contact Alan Bradley at Bromford Carinthia Housing Association on 02902 393705.