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The Council's Affordable Ownership Scheme offers properties that are discounted for sale by local developers. A property that is discounted for sale is one that has been reduced in price to make it affordable for people in housing need who are unable to purchase a property at the full market value.
Gedling Borough Council is committed to assisting as many people in housing need as possible. As a result of negotiations with developers, several new housing schemes across the borough will have discounted properties available for sale. These properties are considered to be affordable housing which means that they are “Dwellings developed specifically for those whose incomes generally prevent them from being able to purchase or rent houses on the open market”.
To qualify for the scheme you must be in housing need and unable to access suitable housing without some financial assistance.
Possible candidates include:
There are many schemes that will be coming available in the Borough in the future including areas like Arnold, Ravenshead and Gedling. The current development with properties ready to purchase is at Cherry Orchards, Flatts Lane Calverton. This is a development by Bovis Homes and it has a range of 2 bed properties, a coach house and a 3-bed house available to purchase at a discounted rate. If you would like further information please contact either :
Telephone Bovis Homes on: 0115 9654903 or
Visit: www.Bovishomes.co.uk (external link)
or contact the Council on the details listed below.
Please use this link to view an example of the 3 bed houses which are available..
MyChoiceHomeBuy is a government funded, low-cost-homeownership product that enables eligible applicants to choose and purchase a home of their own on the open market with the help of a flexible equity loan. For more information please visit www.emhomebuy.org.uk (external link)
The Own Home Scheme is a scheme which is run in partnership between Places for People and the Co-operative Bank. Places for People could lend an approved applicant between 20 and 40% of the value of their new home with no interest payments for the first 5 years, the Co-operative Bank could then offer the applicant a choice of repayment mortgages for the remaining cost. For more information please visit www.ownhome.co.uk (external link)
'Re-sales' are existing properties being sold by the owner/s to people who cannot otherwise afford to purchase a property outright.
It enables eligible people to usually buy either, 25%, 50% or 75% of the property (whichever is being sold) by way of a mortgage or cash purchase and you will then simply pay a rent on the remainder.
Social HomeBuy is a scheme designed to enable tenants to purchase a share in the property that they are currently renting.
For more information about affordable ownership products in the Borough you can contact East Midlands Homebuy, who are agents for Homebuy products in the East Midlands.
Telephone: 0844 892 0112
e-mail: emhomebuy@emha.org
website address: www.emhomebuy.org.uk (external link)
De Montfort Housing Society Ltd
0116 220 5555
www.eshagroup.co.uk (external link)
Metropolitan Housing Trust
www.mho.co.uk/your-options/social-homebuy (external link)
Telephone: 0115 9887100
Nottingham Community Housing Association
Telephone: 0115 9104343
www.ncha.org.uk (external link)
Longhurst Group
www.longhurst-group.org.uk (external link)
Telephone: 0845 30 90 700
Gedling Borough Council
Office opening hour
Monday to Thursday 8.45 – 5.15 pm
Friday8.45 – 4.45 pm
The Housing Strategy Team
Gedling Borough Council
Civic Centre
Arnot Hill Park
Arnold
Nottingham
NG5 6LU
Telephone: 0115 9013672
e-mail: HousingStrategyTeam@gedling.gov.uk
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