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Low cost home ownership scheme
Published: 19/08/2015
天涯社区s low cost home ownership shared equity scheme is a
fantastic opportunity for single people, couples and families to take a step
onto the property ladder, enabling people currently priced out of the housing
market to own a home of their own.
The scheme, administered on behalf of the Council by Grwp Cynefin, is based on
the principle of equity share and helps first time buyers into home ownership.
The purchaser finances聽 70% of the value of the property, meaning a lower
deposit and lower mortgage payments. The equity is not a loan that needs to be
repaid and there is no rent payable. It simply means the Council has a charge
secured against the property to secure the 30% equity loan. When the purchaser
decides to sell the home on, they receive 70% of the sale value at the time,
and the council its 30%, allowing it to recycle the funding or equity for
another household.
Five properties were made available for purchase under this scheme on the
Persimmon development at Croes Atti in Oakenholt and the purchasers have moved
into their new homes. three 2 bedroom terraced houses are still available on
the adjacent Anwyl development and they will be ready in January 2016.
Paul Young who recently reserved a home under the scheme on the Anwyl
development at Croes Atti said:
The shared equity scheme provided by 天涯社区 through Grwp
Cynefin is a brilliant scheme for a single person like myself. Without this
scheme owning my own home simply wouldnt be affordable.
I would recommend this scheme to anyone who is looking to afford to buy their
own home. The scheme provides a lifeline for people looking to get on the
property ladder. Good luck to anyone looking to use this scheme.
Cllr. Helen Brown, Cabinet Member for Housing said,
The scheme provides a chance for people to to buy a home at an affordable
price and I would urge anybody looking for their first property to find out
more about it
Gwenan Jones Affordable Homes 聽Manager with Grwp Cynefin said,
Further shared equity properties are currently available from Anwyl - Cwrt
Isaf Oakenholt, David Wilson Homes - Wepre Green, Connah鈥檚 Quay Redrow -
Heathlands Buckley, Bloor Homes Parc -Jasmine, Broughton and Taylor Wimpey
-Alyn Meadows Hope.
We were also delighted that that three of the five houses available from the
Persimmon development at Croes Atti were sold to purchasers with a local
connection to Oakenholt and Flint, with the remaining two purchasers having
local connections to nearby communities..
To request details of the above schemes or register an interest in future
developments, contact Grwp Cynefin on 0300 111 2122, Email:
affordablehomes@grwpcynefin.org
Website: www.grwpcynefin.org