Affordable Home Ownership

For many years, property prices across Britain have risen faster than people’s incomes. Gedling is no different in this trend. The last two years have seen modest reductions in property prices, but they have also seen more restricted mortgage lending, and the requirement for much larger deposits, which has particularly affected first time buyers. This means that home ownership is still out of reach for many households with modest incomes.

There are several different low cost home ownership schemes to help people who cannot buy a suitable property on the open market. For more information, and to search for more properties in your area, including resale of shared ownership properties, please visit www.emhomebuy.co.uk.

We negotiate affordable housing on all new developments of 15 or more dwellings. This often includes some form of low cost home ownership. We currently have the following opportunities to buy a low cost home in the Borough:

Chartwell Grange and Podder Lane, Mapperley

Longhurst & Havelok Homes have two brand new three bedroom houses available under the New Build HomeBuy scheme, from £92,500 for a 50% equity share. Rent is payable on the remaining share. For more information, contact them on 0845 60 19 095, or visit www.longhurst-group.org.uk.

Chapel Lane, Ravenshead

Davidsons have one brand new three bedroom house available under the Discount for Sale scheme. This is for sale at £116,196, which is a 30% discount from the full market value. However, the purchaser would own the property outright, and would not pay any rent. The 30% discount is attached to the property, so when it is sold in the future, the new purchaser also benefits from it. For more information, contact the estate agents, David Blount Ltd, on 0843 313 7081.

We have to approve potential purchasers for these properties as being in need of affordable housing, needing a property of that size and type and having a local connection.

We also keep a register of people who need affordable home ownership. To join this register and receive information about affordable homes on new developments, please download and complete the application form below.

Affordable Ownership Application Form PDF (1.67MB)

If you need a copy of the form sending, or if you would like any further information, please contact our Housing Strategy section on 0115 901 3672, or email housingstrategyteam@gedling.gov.uk. You can also write to us at the Civic Centre in Arnold.