Applicants buy a lease on a new build home giving them the chance to move into home ownership. They can buy a share in the property ranging from 25% to 75% initailly with the opportunity to buy the remaining shares at a later date.
Generally we find that the most affordable share initially is around 40%.
In recent years the number of homes being created with this scheme have increased significantly. Government sees it as a way in which the increasing numbers of households wanting to buy a home can take the first step. Developers see it as an ideal way to provide affordable homes on their speculative housing for sale schemes. Supply however is still not sufficient to meet the need especially in a high value low wage area such as the south west.
Rents and mortgages
We set rents by looking at the changing market conditions and valuations
across the region. They cover the cost of money we borrow to pay for the part we own. We try to ensure that homes are always affordable. The mortgage lenders set their own interest rates and charges and we cannot influence them. You should seek the best financial advice available when buying a home.
Click below for more information about the homes are are marketing.
Click here for the home2own website, marketing affordable home ownership across the region.
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Homes in Truro Contemporary new apartments in the exciting TR1 development
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Summary A summary of the new homes we are marketing
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