Affordable housing is aimed at people who are:
- First time buyers
- Unable to afford to buy a home on the open market
- Looking to rent a home but cannot afford to pay market rents
The council works closely with housing associations and private developers to make affordable homes available.
There are many different types of affordable housing ranging from the familiar social rented accommodation through to shared ownership, shared equity and Government assisted schemes.
Plumlife is the Government’s Local Help to Buy Agent for the Wyre area and is a one-stop shop for information and applications for affordable home ownership schemes across these areas. These include Help to Buy – Equity Loan and Help to Buy Shared Ownership.
As Help to Buy Agent, Plumlife helps eligible working people to step either on or up the property ladder, offering a range of schemes funded by the government. Help to Buy schemes are designed to reduce the costs of home ownership by lowering the deposit required by lenders, and also keeping monthly repayments down.
You can access free, impartial financial advice through Plumlife’s regional panel of independent mortgage advisers. Get help and advice on which schemes suits you best and how to secure the most suitable mortgage product for you.
Shared Ownership is a popular part-buy, part-rent scheme for people who can’t afford to buy a home with a commercially-available mortgage.
It’s backed by the government, and is a way to buy a share in a home now with the option to buy more of it in the future. You’ll need a minimum level of income/savings depending on the value of the home you want to buy.
Help to Buy – Equity Loan
Help to Buy - Equity Loan is the latest home ownership scheme aimed at helping working people buy a home. It replaces the popular FirstBuy initiative, although works in a similar way.
It offers prospective buyers a 20% equity loan, funded by the Homes and Communities Agency (HCA). Buyers need only come up with a 5% deposit.
Unlike Shared Ownership and other schemes, the Help to Buy - Equity Loan isn't only available to first time buyers, and there is no income threshold.
There are hundreds of desirable new-build homes available to buy through the scheme from the UK’s top house builders including Strata, Taylor Wimpey, Persimmon Homes, Barratt’s and Redrow.
For information on affordable homes in the our area, please contact Plumlife on 0161 447 5151 or visit the website: www.plumlife.co.uk.
Plumlife offers a ‘one stop shop’ information and registration service for first time buyers with a household income of less than £60,000 per year. It also provides free, impartial mortgage advice via its panel of independent financial advisers.
People who are currently social tenants or are working for the armed forces are prioritised however Help to Buy schemes are designed to benefit a wide range of working people on lower to middle family incomes.
Plumlife is part of Great Places Housing Group, a multi award winning affordable homes developer. From chic urban apartments, to family-friendly homes in the countryside – Plumlife is known for choosing innovative and exciting developments which are both desirable and affordable.
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